Annual Report 2019

211 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements 22 Bank deposits and cash (continued) (d) Reconciliation of liabilities arising from financing activities: (continued) Bank loans Lease liabilities Total $’ 000 $’ 000 $’ 000 (Note 23) (Note 26) At 1 January 2018 2,353,265 – 2,353,265 Changes from financing cash flows: Proceeds from new bank loans 1,605,000 – 1,605,000 Repayment of bank loans (1,335,000) – (1,335,000) Total changes from financing cash flows 270,000 – 270,000 Other change: Amortisation of bank loans arrangement fee 1,774 – 1,774 At 31 December 2018 2,625,039 – 2,625,039 Note: The Group has initially applied HKFRS 16 using the modified retrospective method and adjusted the opening balances at 1 January 2019 to recognise lease liabilities relating to leases which were previously classified as operating leases under HKAS 17. See notes 1(c) and 22(c). (e) Total cash outflow for leases Amounts included in the consolidated cash flow statement for leases comprise the following: 2019 2018 (Note) $’ 000 $’ 000 Within operating cash flows 3,672 32,185 Within financing cash flows 4,123 – 7,795 32,185 Note: As explained in note 22(c), the adoption of HKFRS 16 introduced a change in classification of cash flows of certain rentals paid on leases. The comparative amounts have not been restated.