Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 157

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 157
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 adjustment of non-cash items of US$36.9 million, consisted primarily of US$24.8 million
in gain on disposal of subsidiaries, US$8.7 million in dividend income, US$26.3 million in net fair value changes on financial
assets at FVTPL, US$10.6 million in finance costs and US$11.7 million in depreciation; and (ii) a net increase in working
capital by US$4.9 million. The net increase in working capital was primarily attributable to an increase in accounts receivable
of US$3.7 million, a decrease in contract liabilities of US$0.2 million and an increase in prepayments, deposits and other receivables
of US$2.4 million, partially offset by an increase in accounts payable of US$0.9 million and an increase in other payables and accruals
of US$0.4 million.

Net cash generated from operating
activities in 2023 was US$1.1 million. The difference between our profit before tax of US$19.1 million and operating cash inflow
was primarily the result of (i) the adjustment of non-cash items of US$14.6 million, consisted mainly of realized gain in disposal
of financial assets at FVTPL and derivative financial instruments of US$50.5 million and dividend income of US$9.9 million,
partially offset by net fair value changes on financial assets at FVTPL of US$37.8 million and finance costs of 7.1 million;
and (ii) a net increase in working capital by US$3.3 million. The net increase in working capital was primarily attributable
to an increase in accounts receivable of US$1.8 million, a decrease in accounts payable of US$1.4 million, and a decrease in
contract liability of US$0.9 million, partially offset by an increase in other payables and accruals of US$1.3 million.

Net cash used in operating
activities in 2022 was US$1.4 million. The difference between our profit before tax of US$23.7 million and operating cash outflow
was primarily the result of (i) the adjustment of non-cash items of US$21.9 million, consisted primarily of net fair value
changes on financial assets at FVTPL of US$13.0 million, dividend income of US$6.4 million and gain