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Prudential PLC on Thursday said it has agreed to increase its majority interest in Malaysian subsidiary Prudential Assurance Malaysia Berhad to 70% from 51%. The London-based insurer focused on Asia said it bought the additional 19% interest in Sri Han Suria Sdn Bhd, the holding company that owns PAMB, from Detik Ria Sdn Bhd for MYR1.52 billion, around $375 million. 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. ‘Increasing our ownership of PAMB reflects our deep commitment to Malaysia and our confidence in its future,’ said Prudential Chief Executive Anil Wadhwani. Prudential said the deal has been approved by Bank Negara Malaysia, the central bank of Malaysia, and completion is expected to take place ‘shortly’. Based on financial results for the six months ended June 30 2025, the FTSE 100 listing said the transaction would have been accretive to Prudential Group’s IFRS earnings per share, traditional embedded value and IFRS shareholders’ equity per share. On completion, Prudential has agreed to cooperate with Detik Ria in connection with selling its remaining 30% shareholding in Sri Han Suria, should it decide to sell. Last year, Prudential settled a dispute regarding dividend payments with Detik Ria. Detik Ria had initiated legal proceedings against Prudential last April for the equivalent of $833 million plus interest at a rate of 5%. In settlement, around $83 million was paid to Detik Ria, by way of a dividend from Sri Han Suria, with Prudential waiving a further $33 million owed to it by Detik Ria. Shares in Prudential rose 1.3% to 1,182.00 pence each in London on Thursday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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