Annual Report 2019

168 Annual Report 2019 Miramar Hotel and Investment Company, Limited Notes to the Financial Statements 24 Financial risk management and fair values (Continued) (b) Liquidity risk Cash management of the Company and wholly-owned subsidiaries of the Group are substantially centralised at the Group level. The Group’s policy is to regularly monitor current and expected liquidity requirements and its compliance with lending covenants, to ensure that it maintains sufficient reserves of cash and readily realisable marketable securities and adequate committed lines of funding from major financial institutions to meet its liquidity requirements in the short and longer term. The following tables show the remaining contractual maturities at the end of the reporting period of the Group’s financial liabilities, which are based on contractual undiscounted cash flows and the earliest date the Group can be required to pay: Contractual undiscounted cash flow Within 1 year or on demand More than 1 year but less than 2 years More than 2 years but less than 5 years Total Carrying amount HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 At 31 December 2019 Trade and other payables 332,298 – – 332,298 332,298 Amounts due to associates 4,296 – – 4,296 4,296 Amounts due to holders of non-controlling interests of subsidiaries 78,904 – – 78,904 78,547 Bank loan 2,732 – – 2,732 2,727 Lease liabilities 64,562 44,146 46,884 155,592 149,709 Rental deposits received 89,654 – – 89,654 89,654 Contract liabilities 181,898 – – 181,898 181,898 Deferred liabilities – 58,866 123,040 181,906 181,906 754,344 103,012 169,924 1,027,280 1,021,035