Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 360

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 360
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 for respective properties, which involves certain estimates, including appropriate discount rates and market transactions of comparable properties, as appropriate. In relying on the valuation, our management has exercised its judgement and is satisfied that the methods of valuation adopted are appropriate for the relevant property and reflective of current market conditions. Holding Company Structure TGE is a holding company with no material operations of its own. We conduct our operations through our subsidiaries in France, Italy, the U.S., Hong Kong, Malaysia and Singapore currently. As a result, although other means are available for us to obtain financing at the holding company level, our ability to pay dividends to the shareholders and to service any debt we may incur may depend upon dividends paid by our subsidiaries. If any of our subsidiaries incurs debt on its own behalf in the future, the instruments governing such debt may restrict its ability to pay dividends to us. Quantitative and Qualitative Disclosure about Market Risks We have various financial assets and liabilities such as financial assets at FVTPL, accounts receivable, deposits and other receivables, amounts due from joint ventures, restricted cash, cash and bank balances, accounts payable, other payables and accruals, borrowings, amounts due to subsidiaries’ non -controllingshareholders and amount due to ultimate holding company. The main risks arising from our financial instruments are price risk, foreign currency risk, interest rate risk, credit risk and liquidity risk. Our management manages and monitors these risks to ensure appropriate measures are implemented on a timely and effective manner. 223 Price Risk Equity price risk is the risk that the fair values of equity investments decrease as a result of changes in the levels of equity indices and the value of individual securities. We are exposed to equity securities price risk because certain investments we held are classified in the combined statements of financial position as financial assets at FVTPL. Profit for the year would increase/decrease as a result of gains/losses on equity securities classified as financial assets at FVTPL. As of December 31, 2022, 2023 and 2024, if there had been a 5% increase/decrease in the equity price of listed equity shares, included in financial assets at FVTPL, with all other variables held constant, our profit before tax would have been approximately US$5,524,000, US$3,603,000 and US$20,376,000, respectively. We also had concentration risk in two listed equity shares as of December31, 2022 and 2023. As of