Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 344

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 344
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 US$3.8 million and US$7.1 million in 2022, 2023 and 2024, respectively. Cost of hotel operation.Cost of hotel operation primarily includes utilities expenses, repair and maintenance of the hotel properties, travel agent commission and cleaning expenses. Our cost of hotel operation was US$1.7million, US$2.1million and US$8.5million in 2022, 2023 and 2024, respectively. Other income Our other income was US$0.5 million, US$1.2 million and US$24.8 million in 2022, 2023 and 2024, respectively. Other income comprises gain on disposal of subsidiaries, bank interest income and others. Gain from a bargain purchase Our gain from a bargain purchase was US$4.8 million and US$4.5 million in 2022 and 2023, respectively, representing the gain from our acquisition of the business of L’Officiel and The Art Newspaper in April 2022 and October 2023, respectively. We recorded no gain from a bargain purchase in 2024. Other operating expenses Our other operating expenses were US$3.5 million, US$5.7 million and US$15.5 million in 2022, 2023 and 2024, respectively. Other operating expenses primarily include depreciation relating to our hotel properties, advertising and promotion expenses, IT related costs, legal and professional fee, premises costs, travelling expenses and others. Staff costs Our staff costs were US$3.9 million, US$7.9 million and US$13.1 million in 2022, 2023 and 2024, respectively. Salaries and bonus and pension scheme contributions are the major components of our staff costs.

214 Share of profits (losses) of joint ventures Our share of profits (losses) of joint ventures was US$0.8 million in profit, US$2.6 million in losses and US$0.6 million in losses in 2022, 2023 and 2024, respectively. Share of profits (losses) of joint ventures represents our share of losses or profits of our joint venture in the business of investment holding and our Singapore joint venture in the business of hotel investment. Finance costs Our finance costs were US$2.6 million, US$7.1 million and US$10.6 million in 2022, 2023 and 2024, respectively