RCS - Prudential PLC - Prudential plc - PAMB ownership to increase to 70%

PrudentialAnnouncement

22/01/2026 09:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260122:nRSV9393Pa&default-theme=true

RNS Number : 9393P  Prudential PLC  22 January 2026

 

NEWS RELEASE

 

 PRUDENTIAL PLC

 5TH FLOOR

 10 OLD BAILEY

 LONDON, EC4M 7NG

 UK

 ONE INTERNATIONAL FINANCE CENTRE

 1 HARBOUR VIEW STREET

 CENTRAL

 HONG KONG

 www.prudentialplc.com

 

 

Prudential agrees to increase ownership interest in Prudential Assurance
Malaysia Berhad to 70% for approximately US$ 375 million

 

22 January 2026 - Prudential plc ("Prudential") today announced that
Prudential Corporation Holdings Limited ("PCHL"), a wholly-owned subsidiary of
Prudential, has signed an agreement to acquire a further 19% of Sri Han Suria
Sdn. Bhd. ("SHS"), the holding company that owns Prudential Assurance Malaysia
Berhad ("PAMB") (the "Transaction"). Following completion of the Transaction,
Prudential will hold an aggregate stake of 70% in SHS.(1)

 

PAMB is Prudential's conventional life insurance business in Malaysia which
together with its interest in the sharia business of Prudential BSN Takaful
Berhad are reported collectively as Prudential's Malaysian life insurance
segment.

 

Commenting, CEO Anil Wadhwani, said: "Prudential has served Malaysian families
for over a century, building a trusted life and health insurance business that
supports the nation's long-term protection and savings needs. Increasing our
ownership of PAMB reflects our deep commitment to Malaysia and our confidence
in its future.

 

"We remain focused on delivering our strategy, supported by our highly
disciplined capital allocation framework, ensuring we continue to create
long-term value for our customers and communities across Malaysia."

 

Transaction details

 

PCHL has agreed to acquire the additional 19% stake in SHS from Detik Ria Sdn.
Bhd. ("DR") for RM 1.52 billion (approximately US$ 375 million(2)) which will
result in Prudential's aggregate stake increasing to 70%.(1) The Transaction
has been approved by Bank Negara Malaysia and completion is expected to take
place shortly. Based on the unaudited financial results of Prudential plc and
its subsidiaries ("Prudential Group") for the six months ended 30 June 2025,
the Transaction would have been accretive to Prudential Group's IFRS earnings
per share (based on adjusted operating profit), traditional embedded value and
IFRS shareholders' equity per share.

 

Following completion, PCHL has agreed to cooperate with DR in connection with
the divestment of its remaining 30% shareholding in SHS to one or more agreed
third parties, should DR decide to sell.

 

Effects of the Transaction on financial reporting

 

Prudential will continue to consolidate, for accounting purposes, the business
of PAMB as an indirect subsidiary controlled by Prudential. In Prudential
Group's financial statements, the operating performance metrics for
Prudential's Malaysian segment will continue to be presented before the effect
of minority interests. From completion, the proportion of profit after tax and
equity of the conventional life insurance business in Malaysia attributed to
non-controlling interests in the Prudential Group's financial statements will
reflect a reduction in DR's interest in SHS from 49% to 30%.

 

Under the Hong Kong listing rules, a separate announcement is required. This
has also been published today and, together with this press release, is
available on Prudential's website.

 

No statement in this announcement is intended as a profit forecast or estimate
for any period and no statement in this announcement should be interpreted to
mean that earnings or earnings per share for Prudential Group for the current
or future financial years would necessarily match or exceed the historical
published earnings or earnings per share for Prudential Group.

 

Contact

 Media                              Investors/analysts
 Simon Kutner  +44 7581 023260  UK  Patrick Bowes       +852 2918 5468      HK
 Sonia Tsang   +852 5580 7525   HK  William Elderkin    +44 2039 779215     UK
                                    Ming Hau            +44 2039 779293     UK
                                    Bosco Cheung        +852 2918 5499      HK
                                    Tianjiao Yu         +852 2918 5487      HK

 

About Prudential plc

 

Prudential provides life and health insurance and asset management in Greater
China, ASEAN, India and Africa. Prudential's mission is to be the most trusted
partner and protector for this generation and generations to come, by
providing simple and accessible financial and health solutions. The business
has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and
the London Stock Exchange (LSE: PRU). It also has a secondary listing on the
Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock
Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a
constituent of the Hang Seng Composite Index and is also included for trading
in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong
Stock Connect programme.

 

Prudential is not affiliated in any manner with Prudential Financial, Inc. a
company whose principal place of business is in the United States of America,
nor with The Prudential Assurance Company Limited, a subsidiary of M&G
plc, a company incorporated in the United Kingdom.

 

www.prudentialplc.com/ (http://www.prudentialplc.com/)

 

(1) Currently, PCHL holds a 50.999% stake in SHS and PCA IP Services Limited
("PCAIPS"), a wholly owned subsidiary of PCHL, holds a 0.001% stake in SHS.

 

(2) In this announcement, the exchange rate of US$ 1 to RM 4.057 per Bloomberg
on 21 January 2026 midday (Hong Kong time) has been used for reference only.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFIFVDLLIFFIR



            Copyright 2019 Regulatory News Service, all rights reserved