Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 289

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 289
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30 days to travel agents and corporate
customers. All the hotel operation services are for periods of one year or less and the effect of the time value of money is considered
insignificant.

Revenue from other sources

Fair value changes on financial assets at FVTPL are recognized
in the period in which they arise. Gain/loss recognized for those financial assets at FVTPL held at the end of each reporting period is
recognized as net fair value changes on financial assets at FVTPL.

Dividend income is recognized when the shareholders’
right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the
Group and the amount of the dividend can be measured reliably.

Contract liabilities

A contract liability is recognized when the payment is made
and received or the payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract
liabilities are recognized as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services
to the customer).

Retirement benefit costs

Payments to defined contribution retirement benefit plans
are recognized as an expense when employees have rendered service entitling them to the contributions.

Short-term employee benefits

Short-term employee benefits are recognized at the undiscounted
amount of the benefits expected to be paid as and when employees rendered the services. All short-term employee benefits are recognized
as an expense unless another IFRS requires or permits the inclusion of the benefit in the cost of an asset. A liability is recognized
for benefits accruing to employees (such as wages and salaries) after deducting any amount already paid.

<div align='center'>F-46

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

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

Definition of a lease

A contract is, or contains, a lease if the contract conveys
the right to control the use of an identified asset for a period of time in exchange for consideration.

The Group assesses whether a contract is or contains a lease
based on the definition under IFRS 16 Leases at inception, modification date or acquisition date, as appropriate. Such contract
will not be reassessed unless the terms and conditions of the contract