Petronas retains position as most valuable brand in Malaysia

Petronas has been Malaysia’s most valuable brand for 12 years. (Reuters pic)

PETALING JAYA:

Petronas has again emerged as the leading brand in Malaysia. It has been named as the most valuable brand in the country — the 12th year in a row that it has come out tops.

This year, brand valuation consultancy Brand Finance estimated that the Petronas brand is now worth US$13.6 billion (RM57.9 billion), up 13% from last year.

This puts the value of its brand at just over three times that of its closest rival — second-ranked Genting. The casino operator saw its brand value rise 44% to US$4.5 billion (RM19.2 billion), pipping previously ranked second most valuable brand Maybank to third place.

However, Maybank retains its position as the strongest brand in the country, given its AAA rating.

The value of the Maybank brand rose 7% to US$3.9 billion (RM16.6 billion). It scored 89.1 out of a possible 100 in the brand strength index (BSI), overtaking Petronas which came in with 87.7 points. DiGi is third with 79.2 points.

According to a report on brandirectory.com today, Affin Bank has emerged as the fastest growing brand in Malaysia. Its brand value rose 45% to US$232 million (RM989 million).

Affin Bank has invested in technological innovation to grow, winning two awards under the Cloud and Mobile-Banking categories in the Malaysia Technology Excellence Award 2022.

Top Glove and Genting tied for second place. The glovemaker saw its brand value rise 44% to US$499 million (RM2.1 billion).

Property developer Mah Sing and healthcare service provider IHH jumped 10 spots to record the widest improvement in their brand value.

Mah Sing saw a 35% improvement in its brand value to US$130 million (RM554 million) to take it from 67th to 56th place.

The brandirectory.com report noted that Mah Sing has been recording a rebound in sales momentum as the country reopens after Covid-19 restrictions were lifted, while IHH is looking to align itself with three major trends in the healthcare industry, namely digital delivery of healthcare, growing consumer demand for greater transparency and improved public-private collaboration.

In addition to calculating brand value, Brand Finance also determines the relative strength of brands through evaluation of marketing investment, stakeholder equity and business performance.

LatestHeadlines

Petronas retains position as most valuable brand in Malaysia

Genting nudges Maybank into third place, but the nation’s largest bank still has the strongest brand in the country.