MALAYSIAN oil and gas giant, Petroliam Nasional Bhd (Petronas), has been crowned as ASEAN’s most valuable brand of the year, according to global brand valuation consultancy Brand Finance.

In a report released today, Brand Finance said it found Petronas’ financial performance remained robust, driven by strategic shifts towards increased trading activities in crude oil and petrochemicals, which have contributed to substantial revenue increases.

The report said Petronas’ brand value rose 15% to US$14.6 billion (RM60.88 billion).

Singapore’s largest financial institution DBS Bank Ltd was badged as the region’s second most valuable brand, with its brand value up 5% to US$11 billion.

In third place was Vietnam’s telecommunication company Viettel (brand value US$8.9 billion) which has been able to maintain its market leadership and deliver affordable, high-quality services.

Every year, Brand Finance puts 6,000 of the biggest brands to the test, ranking brands across all sectors and countries.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market.

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors, according to the publisher of the report. — TMR