Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 145

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 145
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 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.

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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. Finance costs consist primarily of interests on our
borrowings and interests on amounts due to non-controlling shareholders of our subsidiaries.

Taxation

Cayman Islands

The Cayman Islands currently
levies no taxes on individuals or corporations based upon profits, income, capital gains or appreciation and there is no taxation in the
nature of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the government of the Cayman
Islands except for stamp duties which may be applicable on instruments executed in or brought within the jurisdiction of the Cayman Islands.
There are no exchange control regulations or currency restrictions in the Cayman Islands.

France

In France, corporate income
tax rate of 15% applies to the first €38,120 of taxable profits for entities realizing a turnover up to €10 million for
the years ended December 31, 2022, 2023 and 2024. The corporate income tax rate above €38,120 of taxable profits is 25%
during the years ended December 31, 2022, 2023 and 2024.

Italy

Italian corporate entities
are subject to a corporate income tax of 24%, and to a regional production tax of 3.9% during the year ended December 31, 2022, 2023
and 2024.

United States

In the United States,
the federal corporate tax rate is a flat rate of 21% during the year ended December 31, 2022, 2023 and 2024. New York, where
part of our subsidiaries domiciles, has a 6.50% to 7.25% corporate income tax rate during the year ended December 31, 2022 and 6.50%
to 8.85% corporate income tax rate during the year ended December 31, 2023 and December 31, 2024.

Southeast Asia

Malaysian corporate income