Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 304

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 304
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     |         |    (95 | ) |
| Exchange realignment                  |     |         |     80 |   |
| As of December 31, 2022               |     |         |  4,079 |   |
| Additions                             |     |         |    476 |   |
| Settled during the year               |     |         |   (831 | ) |
| Exchange realignment                  |     |         |    142 |   |
| As of December 31, 2023               |     |         |  3,866 |   |
| Additions                             |     |         |    450 |   |
| Settled during the year               |     |         |   (533 | ) |
| Disposal of subsidiaries              |     |         | (3,750 | ) |
| Exchange realignment                  |     |         |    (33 | ) |
| As of December 31, 2024               |     |         |      — |   |

| (b) | Provision for replacement |

The amount represented provision for the replacement and
maintenance of furniture, fixtures and equipment within the hotels of the Group.

<div align='center'>F-64

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

| 25. | DEFERRED TAX LIABILITIES |

The movements in deferred tax liabilities during the years
are as follows:

| As of January 1, 2022                 |     | Intangible 
 assets     
 US$’000    |     — |   |
|:--------------------------------------|:----|:-----------|------:|:--|
| Acquisition of subsidiaries (note 34) |     |            | 2,769 |   |
| Exchange realignment                  |     |            |  (108 | ) |
| As of December 31, 2022               |     |            | 2,661 |   |
| Acquisition of subsidiaries (note 34) |     |            | 2,961 |   |
| Exchange realignment                  |     |            |     2 |   |
| As of December 31, 2023               |     |            | 5,624 |   |
| Exchange realignment                  |     |            |    34 |   |
|