Prudential - CGS-CIMB Research 2023-09-07: Key Takeaways From Post Results Roadshow

Prudential - Key Takeaways From Post Results Roadshow

Prudential (SGX:K6S) | SGinvestors.ioPrudential (SGX:K6S)
  • We hosted Prudential post-results roadshow earlier this week, where Prudential’s Group CEO, Group CFO, and two of its Managing Directors of its Strategic Business Group answered investor questions.
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Much unrealised potential exists to be tapped

  • Prudential (SGX:K6S) believes upside exists as it increases technology and data spending with a greater ustomer focus. It plans ~US$1bn of additional investment in capabilities weighted to FY23F-25F, with half focusing on distribution, a third on customers and the rest on health, with plans to leverage more centres of excellence to grow scale and skills across the company.
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Strong MCV growth, with the right product suite to tap this growth

  • Prudential remains optimistic about Hong Kong (HK), with both segments of mainland Chinese visitors (MCV) and non-MCV growing strongly in 1H23, and likely in 3Q23F based on Jul and Aug MCV flow, in our view.
  • Prudential believes it has the right product suite to tap this rapid growth amidst the evolving demand from MCV customers. It also pointed out the Greater Bay Area (of which HK is part) is now a more important strategic growth area for China policymakers.

Participating products and longer-term saving products in China

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Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

Michael CHANG CFA CGS-CIMB Research | Laura LI Zhiyi CGS-CIMB Research | 2023-09-07

Read also CGS-CIMB's most recent report:
2024-03-12 Prudential - Market Share Growth Is Another Catalyst.

Previous report by CGS-CIMB:
2023-12-12 Prudential - Key Regional Financial Conference Takeaways.

Price targets by 3 other brokers at Prudential Target Prices.

Listing of research reports at Prudential Analyst Reports.

Relevant links:
Prudential Share Price History,
Prudential Announcements,
Prudential Dividends & Corporate Actions,
Prudential News Articles


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