Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 161

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 161
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 to an unconsolidated
entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated
entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services
with us.

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Critical Accounting Estimates

Impairment assessment
of intangible assets

Determining whether intangible
assets are impaired requires an estimation of the recoverable amount of the cash-generating unit to which intangible assets have been
allocated, which is the higher of the value in use or fair value less costs of disposal. The value in use calculation requires us to estimate
the future cash flows from the cash-generating unit and a suitable discount rate in order to calculate the present value. Where the actual
future revenue is less than expected, or change in facts and circumstances which results in downward revision of future cash flows or
upward revision of discount rate, a material impairment loss or further impairment loss may arise.

Revaluation measurement
of properties

As at the end of the reporting
period, our properties are stated at revalued amounts based on the valuation performed by independent qualified professional valuers.
In determining the fair value, the valuers have based their valuation on income approach for respective properties, which involves certain
estimates, including appropriate discount rates and market transactions of comparable properties, as appropriate. In relying on the valuation,
our management has exercised its judgement and is satisfied that the methods of valuation adopted are appropriate for the relevant property
and reflective of current market conditions.

Holding Company Structure

The Generation Essentials
Group is a holding company with no material operations of its own. We conduct our operations through our subsidiaries in France, Italy,
the U.S., Hong Kong, Malaysia and Singapore currently. As a result, although other means are available for us to obtain financing
at the holding company level, our ability to pay dividends to the shareholders and to service any debt we may incur may depend upon dividends
paid by our subsidiaries. If any of our subsidiaries incurs debt on its own behalf in the future, the instruments governing such debt
may restrict its ability to pay dividends to us.

Quantitative and Qualitative
Disclosure about Market Risks

We have various financial
assets and liabilities such as financial assets at FVTPL, accounts receivable, deposits and other receivables, amounts due from joint
ventures, restricted cash, cash and bank balances,