Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 322

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 322
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. The transaction was completed in October 2023 using acquisition accounting.

No acquisition-related cost has been
recognized as an expense for the year ended December 31, 2023.

Consideration transferred

|                                                     |     | US$’000 |        |
| Cash through amount due to ultimate holding company |     |         |  2,540 |
| Ordinary shares of the intermediate holding company |     |         |  5,607 |
| Ordinary shares of immediate holding company        |     |         |  5,607 |
| Other consideration payable                         |     |         |  3,077 |
| Net assets acquired                                 |     |         | 16,831 |

<div align='center'>F-76

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 34. | ACQUISITIONS OF SUBSIDIARIES (cont.) |

Assets and liabilities at the date of acquisition

|                                             |     | US$’000 |        |   |
| Cash and cash balances                      |     |         |     27 |   |
| Accounts receivable                         |     |         |    674 |   |
| Prepayments, deposits and other receivables |     |         |    301 |   |
| Property, plant and equipment               |     |         |    333 |   |
| Intangible assets                           |     |         | 25,752 |   |
| Accounts payable                            |     |         |   (402 | ) |
| Other payables and accruals                 |     |         | (1,724 | ) |
| Borrowings                                  |     |         |    (37 | ) |
| Lease liabilities                           |     |         |   (244 | ) |
| Contract liabilities                        |     |         |   (419 | ) |
| Deferred tax liabilities                    |     |         | (2,961 | ) |
| Net assets acquired                         |     |         | 21,300 |   |

The fair values and gross contractual
amounts of accounts receivable and other receivables at the date of acquisition amounted to of approximately US$674,000 and US$301,000,
respectively. No accounts receivable and other receivables were expected to be uncollectible.

Gain arising on acquisition

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