Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 297

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 297
---
 units. Management of the Group believes
that any reasonably possible changes in any of these assumptions would not cause the carrying amount of cash-generating unit to exceed
its recoverable amount.

| 13. | INTERESTS IN JOINT VENTURES |

|                                                                 |     | As of December 31, |        |     |         |        |     |         |   |
|                                                                 |     |               2022 |        |     |    2023 |        |     |    2024 |   |
|                                                                 |     |            US$’000 |        |     | US$’000 |        |     | US$’000 |   |
| Costs of investment in joint ventures                           |     |                    | 16,535 |     |         | 16,506 |     |         | — |
| Share of post-acquisition losses and other comprehensive income |     |                    | 52,795 |     |         | 55,370 |     |         | — |
|                                                                 |     |                    | 69,330 |     |         | 71,876 |     |         | — |
| Due from joint ventures                                         |     |                    | 30,554 |     |         | 23,810 |     |         | — |
| Total                                                           |     |                    | 99,884 |     |         | 95,686 |     |         | — |

Amounts due from joint ventures are
unsecured, interest-free and repayable on demand.

Particulars of the joint ventures which
own and operate the DAO by Dorsett AMTD Singapore Hotel in Singapore (“Singapore hotel companies”) as of December 31,
2022 and 2023 are as follows:

| Name                     |     | Particulars     
 of issued       
 shares held     |     | Place of       
 incorporation/ 
 registration   
 and business   |     | Percentage of  
 ownership      
 interest,      
 voting         
 power and      
 profit sharing |    |   |     | Principal          
 activity           |
| Cosmic Gold Limited      |     | Ordinary shares |     | BVI            |     |                | 51 | % |     | Investment holding |
| DHI Holding (S) Pte Ltd. |     | Ordinary shares |     | Singapore      |     |                | 51 | % |     | Hotel investment   |

On April 1, 2024, the Group agreed
with the remaining shareholder of Singapore hotel companies that the Group owns the controlling