Annual Report 2019

109 Miramar Hotel and Investment Company, Limited Annual Report 2019 Consolidated Cash Flow Statement 2019 2018 Note HK$’000 HK$’000 Net increase in cash and cash equivalents 1,622,920 1,658,039 Cash and cash equivalents at 1 January 3,296,952 1,641,488 Effect of foreign exchange rate changes (2,407) (2,575) Cash and cash equivalents at 31 December 4,917,465 3,296,952 Analysis of the balances of cash and cash equivalents at 31 December Cash and bank balances 16(a) 5,252,640 4,713,351 Less: Time deposits with maturity more than three months (335,175) (1,416,399) 4,917,465 3,296,952 The notes on pages 110 to 176 form part of these financial statements. Consolidated cash flow statement (Continued) for the year ended 31 December 2019