Annual Report 2019

108 Annual Report 2019 Miramar Hotel and Investment Company, Limited Consolidated Cash Flow Statement 2019 2018 Note HK$’000 HK$’000 Cash generated from operations brought forward 993,954 1,067,837 Interest received 123,842 89,776 Interest and other borrowing costs paid (761) (1,083) Dividends paid (421,485) (414,575) Dividends paid to non-controlling interests (26,141) (14,340) Tax paid – Hong Kong Profits Tax (35,792) (140,698) – Overseas tax (6,941) (6,626) Net cash generated from operating activities 626,676 580,291 Investing activities Payment for purchase of investment properties (8,515) (18,811) Payment for purchase of other property, plant and equipment (24,970) (83,638) Net proceeds/(payment) for purchase and disposal of other financial assets not held for trading purposes 2,042 (38,419) Proceeds from disposal of other property, plant and equipment 472 179 Return of capital upon the liquidation of an associate 7,609 – Dividend income received from listed securities 3,523 3,351 Decrease in time deposits with maturity more than three months 1,081,224 379,737 Net cash generated from investing activities 1,061,385 242,399 Financing activities Proceeds from new bank loans 16(b) 13,922 47,331 Repayment of bank loans 16(b) (13,971) (47,429) Repayment of advances from holders of non-controlling interests of subsidiaries 16(b) (6,080) (6,708) Proceeds from issue of new shares – 842,155 Capital element of lease rentals paid 16(b) (55,842) – Interest element of lease rentals paid 16(b) (3,170) – Net cash (used in)/generated from financing activities (65,141) 835,349 Consolidated cash flow statement (Continued) for the year ended 31 December 2019