Petronas remains Asean’s 2nd most valuable brand

Petronas has retained its position as Asean’s second most valuable brand, according to a brand valuation consultancy, with Genting and Maybank also making the region’s top 10.

Brand Finance’s Asean 500 report valued Petronas’s brand at US$13.8 billion despite a 4% decline from last year, which it attributed to lower energy prices.

The national oil and gas company also topped Asean brands in sustainability perceptions value, at US$1.3 billion. This represents the value attributed to perceptions of its sustainability efforts, including its energy transition strategy and commitment to net-zero carbon emissions.

Brand Finance Asia-Pacific managing director Alex Haigh said Malaysia had strong representation across the energy, leisure and banking sectors, with Petronas continuing to strengthen perceptions of its reputation and reliability despite the decline in brand value.

“Petronas’s brand value this year reflects softer energy prices rather than weaker customer relationships, as perceptions of its reputation and reliability continue to strengthen at home,” Haigh said in a statement.

“That distinction matters, because brands that keep building trust through a downturn are better placed to recover value when conditions improve.”

Singapore’s DBS Group retained first place, with the banking group’s brand value rising 8% to US$18.56 billion. Thai oil and gas company PTT held third place despite a 5% decline in brand value to US$8.73 billion.

Singapore-based integrated resort operator Marina Bay Sands climbed from eighth place to fourth after its brand value grew 35% to US$7.98 billion. Vietnam’s telecommunications company Viettel Group slipped from fourth to fifth, although its brand value increased 7% to US$7.85 billion.

Indonesia’s Bank Rakyat Indonesia fell from fifth to sixth, with its brand value declining 5% to US$6.93 billion. Singaporean banks OCBC and UOB retained seventh and eighth places, respectively, with their brand values rising 7% to US$6.83 billion and 10% to US$6.76 billion.

Genting climbed from 11th to ninth place after its brand value rose 23% to US$6 billion, driven by improved operating performance, higher business volumes in leisure and hospitality and stronger tourism demand in Malaysia and Singapore.

Maybank rounded off the top 10, with its brand value increasing 4% to US$5.4 billion, supported by solid financial performance and improving wealth fees.

Other Malaysian brands also recorded growth, including AirAsia, whose brand value rose 17% to US$2.3 billion, and Malaysia Airlines, which recorded a 27% increase to US$771 million.

CelcomDigi’s brand value grew 6% to US$1.8 billion, while KPJ Healthcare recorded a 45% increase to US$305 million.

Across Asean, the combined value of the 500 ranked brands rose 8% to US$315.6 billion.

Subscribe to our newsletter and get news delivered to your mailbox.