REG - Prudential PLC Prudential Fdg(Asia) - Settlement reached in Malaysian dividend dispute

PrudentialAnnouncement

Thu 10:15

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RNS Number : 3875T  Prudential PLC  31 July 2025

This announcement contains inside information.

 

Settlement reached in Malaysian dividend dispute

 

We refer to the previous announcements by Prudential plc ("Prudential"),
including on 30 April 2025, with an update about its ongoing shareholder
dispute with Detik Ria Sdn Bhd ("Detik Ria").

 

Prudential has reached a full and final settlement regarding a dividend claim
made by Detik Ria, the 49 per cent shareholder in Sri Han Suria Sdn Bhd
("SHS"), the holding company of Prudential Assurance Malaysia Berhad ("PAMB").

 

Detik Ria had initiated legal proceedings against Prudential in April 2025
regarding dividends for the equivalent of approximately USD$ 833 million* plus
interest at a rate of 5 per cent.

 

As a result of the settlement, the equivalent of USD$ 83 million* will be paid
to Detik Ria by way of a dividend from SHS, which will be paid out of existing
resources. In addition, Prudential has waived the equivalent of USD$ 33
million* which was owed by Detik Ria to one of Prudential's subsidiaries as a
result of the Federal Court decision referred to in the announcement of 30
July 2024.

 

All proceedings in respect of the dispute are to be withdrawn. The settlement
also provides for a mutual release of all liability from all ongoing claims
and parties have agreed not to raise new claims for historic matters. It is
governed by the laws of England and Wales and subject to Singapore
arbitration.

 

In aggregate, the unaudited effect of the settlement is expected to be a small
increment to the Group's IFRS shareholder equity.

 

The accounting treatment of Prudential's ownership interest in PAMB in the
group financial statements of Prudential will continue to reflect a 49%
non-controlling interest for the minority shareholding of Detik Ria.

 

*based on the exchange rate per Bloomberg on 30 July 2025 midday (Hong Kong
time).

 

Person responsible

 

The person responsible for arranging the release of this announcement on
behalf of Prudential plc is Tom Clarkson, Company Secretary.

 

Contact

 

 Media                              Investors/analysts
 Simon Kutner  +44 7581 023260      Patrick Bowes     +852 2918 5468
 Stephanie Yu  +852 5275 5360       William Elderkin  +44 20 3977 9215
                                    Ming Hau          +44 20 3977 9293
                                    Bosco Cheung      +852 2918 5499
                                    Tianjiao Yu       +852 2918 5487

 

About Prudential plc

 

Prudential provides life and health insurance and asset management in 24
markets across Asia 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 (2378) and the
London Stock Exchange (PRU). It also has a secondary listing on the Singapore
Stock Exchange (K6S) and a listing on the New York Stock Exchange (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
(https://apc01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.prudentialplc.com%2F&data=05%7C02%7Cflorence.ng%40prudential.com.hk%7Ca5c9a75fb53f48978d9108ddce7e1eb7%7C7007305e26644e6bb9a4c4d5ccfd1524%7C0%7C0%7C638893763313075861%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=sK5kmsViAlRtKUH14CH%2B5eUFpX7%2FNv3920P7hSlG9ug%3D&reserved=0)

 

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