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BUSINESS

Petronas retains title as most valuable ASEAN brand in 2022

28/01/2022 04:07 PM

KUALA LUMPUR, 28 Jan --  Petronas has maintained its position as the most valuable ASEAN brand in the Brand Finance Global 500 report this year and remains among the top 10 oil and gas brands globally.  

The company said in a statement today that Petronas’ Brand Strength Index (BSI) - judged on a brand’s performance that focuses intangible measures relative to its competitors - increased from 87 in 2021 to 87.7 in 2022, resulting in its ranking as the top ASEAN brand. 

Brand Finance attributes Petronas' position to its consistent brand performance, contributing to a brand value of US$13.6 billion in 2022 from US$12 billion in 2021, an increase of 13 per cent.

This achievement is also driven by the rise in energy demand as the global economy recovers post-pandemic, enabling Petronas to bounce back from last year’s challenges in the oil and gas sector.  

Brand Finance considers three key components in calculating a brand’s value, which is determined by the brand’s strength, business, and economic outlook. 

President and group chief executive officer Datuk Tengku Muhammad Taufik said “Petronas is grateful for the continued recognition as the most valuable ASEAN brand.”

"This recognition is a strong testimony to Petronas’ ongoing efforts to fulfil its purpose, namely to become a progressive energy and solutions partner,” he continued. "We remain fully committed to providing our customers with access to energy that is cleaner, affordable and secure as we enrich lives for a sustainable future.”

The 2022 iteration of the Brand Finance Global 500 report on the world's most valuable brands across all sectors and countries was announced on Jan 26 2022 via a webinar. 

-- BERNAMA


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