Prudential (GB:PRU) has released an update.
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Prudential has announced a change in the accounting of its stake in the Malaysian life insurance segment, following a Federal Court decision in Malaysia that overturned previous rulings, and will now report a 49% non-controlling interest in its group financial statements. The alteration, which will be recorded in the company’s mid-year 2024 financial reporting, is expected to lead to a marginal reduction in shareholders’ equity but does not affect Prudential’s control over its Malaysian operations. The company is considering further actions after expressing disappointment with the court’s verdict.
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