31 Jul 2025

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All proceedings in respect of the dispute are to be withdrawn.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).

Ends

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