Annual Report 2021

115 Consolidated Cash Flow Statement Miramar Hotel and Investment Company, Limited Annual Report 2021 Consolidated cash flow statement (Continued) for the year ended 31 December 2021 Note 2021 2020 HK$’000 HK$’000 Net decrease in cash and cash equivalents (1,328,307) (648,099) Cash and cash equivalents at 1 January 4,276,107 4,917,465 Effect of foreign exchange rate changes 6,560 6,741 Cash and cash equivalents at 31 December 2,954,360 4,276,107 Analysis of the balances of cash and cash equivalents at 31 December Cash and bank balances 16(a) 5,247,852 5,050,300 Less: Time deposits with maturity more than three months (2,293,492) (774,193) 2,954,360 4,276,107 The notes on pages 116 to 175 form part of these financial statements.