Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 332

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 332
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 receivable                         |     |         |   1,855 |   |
| Prepayments, deposits and other receivables |     |         |   2,745 |   |
| Intangible assets                           |     |         |  92,294 |   |
| Accounts payable                            |     |         | (11,489 | ) |
| Other payables and accruals                 |     |         | (11,033 | ) |
| Provisions                                  |     |         |  (4,094 | ) |
| Borrowings                                  |     |         |    (585 | ) |
| Deferred tax liabilities                    |     |         |  (2,769 | ) |
| Net assets acquired                         |     |         |  67,648 |   |

<div align='center'>F-78

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.) |

The fair values and gross contractual amounts of accounts
receivable and other receivables at the date of acquisition amounted to approximately US$1,855,000 and US$2,492,000, respectively. No
accounts receivable and other receivables were expected to be uncollectible.

Gain arising on acquisition

|                                                             |     | US$ |         |   |
| Recognized amounts of net assets acquired                   |     |     |  67,648 |   |
| Less: consideration transferred by ultimate holding company |     |     | (62,800 | ) |
|                                                             |     |     |   4,848 |   |

Bargain purchase gain amounting to approximately US$4,848,000
on acquisition of L’Officiel Inc SAS is recognized in profit or loss within the other gain line item in the consolidated statement
of profit or loss and other comprehensive income. The transaction resulted in a bargain purchase gain, reflecting the financial and operating
conditions of the acquiree at the time of acquisition.

Impact of acquisition on the results of the Group

Included in the consolidated profit for the year ended December 31,
2022 is the profit of US$2.7 million attributable to the business generated by L’Officiel Inc SAS. Revenue for the year
ended December 31, 2022