Annual Report 2021

114 Consolidated Cash Flow Statement Annual Report 2021 Miramar Hotel and Investment Company, Limited Consolidated cash flow statement (Continued) for the year ended 31 December 2021 2021 2020 Note HK$’000 HK$’000 Cash generated from operations brought forward 590,810 449,392 Interest received 23,040 78,010 Interest and other borrowing costs paid (13) (345) Dividends paid (331,661) (386,937) Dividends paid to non-controlling interests – (36,420) Tax paid – Hong Kong Profits Tax (72,453) (209,049) – Overseas tax (7,692) (5,472) Net cash generated from/(used in) operating activities 202,031 (110,821) Investing activities Payment for purchase of investment properties (16,231) (9,835) Payment for purchase of other property, plant and equipment (8,021) (39,649) Net proceeds for disposal of other financial assets not held for trading purposes 43,970 17,365 Proceeds from disposal of other property, plant and equipment 47 24 Proceeds from disposal of properties 18,879 – Dividend income received from listed securities 3,794 3,632 Increase in time deposits with maturity more than three months (1,519,299) (439,018) Net cash used in investing activities (1,476,861) (467,481) Financing activities Proceeds from new bank loans 16(b) – 11,138 Repayment of bank loans 16(b) (2,861) (11,125) Repayment of advances from holders of non-controlling interests of subsidiaries 16(b) – (5,953) Capital element of lease rentals paid 16(b) (48,392) (60,882) Interest element of lease rentals paid 16(b) (2,224) (2,975) Net cash used in financing activities (53,477) (69,797)