Annual Report 2020

111 Consolidated Cash Flow Statement Miramar Hotel and Investment Company, Limited Annual Report 2020 2020 2019 Note HK$’000 HK$’000 Cash generated from operations brought forward 449,392 993,954 Interest received 78,010 123,842 Interest and other borrowing costs paid (345) (761) Dividends paid (386,937) (421,485) Dividends paid to non-controlling interests (36,420) (26,141) Tax paid – Hong Kong Profits Tax (209,049) (35,792) – Overseas tax (5,472) (6,941) Net cash (used in)/generated from operating activities (110,821) 626,676 Investing activities Payment for purchase of investment properties (9,835) (8,515) Payment for purchase of other property, plant and equipment (39,649) (24,970) Net proceeds for disposal of other financial assets not held for trading purposes 17,365 2,042 Proceeds from disposal of other property, plant and equipment 24 472 Return of capital upon the liquidation of an associate — 7,609 Dividend income received from listed securities 3,632 3,523 (Increase)/decrease in time deposits with maturity more than three months (439,018) 1,081,224 Net cash (used in)/generated from investing activities (467,481) 1,061,385 Financing activities Proceeds from new bank loans 16(b) 11,138 13,922 Repayment of bank loans 16(b) (11,125) (13,971) Repayment of advances from holders of non-controlling interests of subsidiaries 16(b) (5,953) (6,080) Capital element of lease rentals paid 16(b) (60,882) (55,842) Interest element of lease rentals paid 16(b) (2,975) (3,170) Net cash used in financing activities (69,797) (65,141) Consolidated cash flow statement (Continued) for the year ended 31 December 2020