Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 358

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 358
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 Credit risk refers to the risk that our counterparties default on their contractual obligations resulting in financial losses to us. Our credit risk exposures are primarily attributable to accounts receivable, bank balances and deposits and other receivables. Our directors consider that these credit risks are not significant. Liquidity Risk We aim to maintain cash and credit lines to meet its liquidity requirements. We finance our working capital requirements through a combination of funds generated from operations, loans and equity financing. Our liquidity risk exposures are primarily attributable to accounts payable, other payables and accruals, borrowings, amounts due to subsidiaries’ non -controllingshareholders, amount due to ultimate holding company. Internal Control Over Financial Reporting Prior to the consummation of the Business Combination, we had been a private company with limited accounting personnel and other resources with which to address our internal control. Our management has not 224 completed an assessment of the effectiveness of our internal control and procedures over financial reporting and our independent registered public accounting firm has not conducted an audit of our internal control over financial reporting. In the course of auditing our combined financial statements included in this prospectus, we and our independent registered public accounting firm did not identify any material weakness in our internal control over financial reporting. As defined in the standards established by the U.S. Public Company Accounting Oversight Board, a “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Neither we nor our independent registered public accounting firm undertook a comprehensive assessment of our internal control under the Sarbanes -OxleyAct for purposes of identifying and reporting any weakness in our internal control over financial reporting. We and they are required to do so only after we become a public company. Had we performed a formal assessment of our internal control over financial reporting or had our independent registered public accounting firm performed an audit of our internal control over financial reporting, control deficiencies may have been identified. See “Risk Factors — Risks Relating to Our Business and Industry — If we do not appropriately maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes -OxleyAct of 2002, we may be unable to accurately report our financial results and the market price of our securities may be adversely affected.” As a company with less than US$1.235 billion in revenues for fiscal year of 2024, we