Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 158

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 158
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’ non-controlling shareholders
of US$6.4 million and interest paid of US$1.6 million.

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Material Cash Requirements

Our material cash requirements
as of December 31, 2024 and any subsequent interim period primarily include (i) borrowings, (ii) amount due to our ultimate
holding company, (iii) amounts due to non-controlling shareholders of our subsidiaries, and (iv) lease liabilities.

Our borrowings mainly comprise
of secured bank borrowings of US$219.6 million, which are denominated in Hong Kong dollars, Singapore dollars and USD, and unsecured
bank borrowings of US$25 thousands. Except for bank borrowings of US$11.0 million carrying a fixed-rate interest of 5.0% per annum,
other bank borrowings carry variable interest rates with a weighted average contractual interest rate of 4.03% per annum as of December 31,
2024.

Our amount due to our ultimate
holding company mainly consists of interest-free current account with our ultimate holding company. The amount will be waived by our ultimate
holding company upon Closing.

Our amounts due to non-controlling
shareholders of our subsidiaries consists of interest-free current account of US$63.0 million as of December 31, 2024. In August 2024,
interest bearing balance of US$29.5 million was settled through the current account of our ultimate holding company and the non-controlling
shareholders.

Our lease liabilities primarily
consist of certain outstanding lease obligations of our offices.

The following table sets forth
our material cash requirements as of December 31, 2024.

|                                                          |     |                                   |         |     | Payment Due by Period |        |     |           |         |
|                                                          |     | Total                             |         |     | Within                
 One Year              |        |     | More Than 
 One Year  |         |
|                                                          |     | US$                               |         |     | US$                   |        |     | US$       |         |
|                                                          |     | -in thousands, except percentages |         |     |                       |        |     |           |         |
| Bank borrowings                                          |     |                                   | 219,609 |     |                       |    176 |     |           | 219,433 |
| Amount due to ultimate holding company                   |     |                                   | 102,622 |     |                       |      — |     |