Annual Report 2020

167 Notes to the Financial Statements Miramar Hotel and Investment Company, Limited Annual Report 2020 23 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 2020 Trade and other payables 221,145 – – 221,145 221,145 Amounts due to associates 4,289 – – 4,289 4,289 Amounts due to holders of non-controlling interests of subsidiaries 72,475 – – 72,475 72,475 Bank loan 2,998 – – 2,998 2,993 Lease liabilities 44,402 24,619 20,923 89,944 87,164 Rental deposits received 76,729 – – 76,729 76,729 Deferred liabilities – 86,046 99,356 185,402 185,402 422,038 110,665 120,279 652,982 650,197