31st Jul 2025 13:03
Prudential PLC - London-based provider of life and health insurance and asset management in Asia and Africa - Reaches settlement with Detik Ria Sdn Bhd, the 49% owner of Sri Han Suria Sdn Bhd, the holding company for Prudential Assurance Malaysia Bhd, in which Prudential holds the other 51%. Detik Ria in April had filed legal proceedings against Prudential for the equivalent of USD833 million, plus interest, claiming unpaid dividends. The settlement will see SHS pay Detik Ria a dividend equivalent to USD83 million. In addition, Prudential has waived the equivalent of USD33 million, which was owed by Detik Ria to one of Prudential's subsidiaries as a results of a court decision in July last year. As a result of the settlement, Prudential said all proceedings related to the dispute will be withdrawn, and there will be no new claims. Prudential last year was blocked from taking over 100% of Prudential Assurance Malaysia from Detik Ria, after the Federal Court of Malaysia overturned previous rulings by the High Court and Court of Appeal in Prudential's favour. Read More
