Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 311

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 311
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3 |        |     |    2024 |         |
|                                  |     |            US$’000 |         |     | US$’000 |        |     | US$’000 |         |
| Financial assets at FVTPL        |     |                    | 123,921 |     |         | 77,801 |     |         | 420,544 |
| Derivative financial instruments |     |                    | 185,069 |     |         |      — |     |         |  30,339 |
|                                  |     |                    | 308,990 |     |         | 77,801 |     |         | 450,883 |

Management has assessed that the fair
values of bank balances, accounts receivable, deposits and other receivables, amounts due from joint ventures, restricted cash, accounts
payable, other payables and accruals, borrowings, amounts due to subsidiaries’ non-controlling shareholders and amount due to ultimate
holding company approximate to their carrying amounts largely due to the short-term maturities of these instruments or repayable on demand,
or that they are interest-bearing at market rates.

The Group’s finance department
headed by the chief financial officer is responsible for determining the policies and procedures for the fair value measurement of financial
instruments. The finance director reports directly to the chief financial officer. At each reporting date, the finance department analyzes
the movements in the values of financial instruments and determines the major inputs applied in the valuation. The valuation is reviewed
and approved by the chief financial officer.

Some of the Group’s financial
instruments are measured at fair value for financial reporting purposes. The management of the Company is responsible for determining
the appropriate valuation techniques and inputs for fair value measurements.

In estimating the fair value, the Group
uses observable market data to the extent it is available. Where Level 1 inputs are not available, the Group refers to the prices of
recent transactions or engages third-party qualified valuers to perform the valuation.

The management of the Company works
closely with the qualified external valuers to establish the appropriate valuation techniques and inputs to the model. The management
reports the findings to the directors of the Company to explain the cause of fluctuations in the fair value.

Below is summary of significant unobservable
inputs to valuation of financial instruments together with a quantitative sensitivity analysis:

<div align='center'>F-69

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FIN