KUALA LUMPUR: Petroliam Nasional Berhad (Petronas) has retained its position as the most valuable Asean brand in the Brand Finance Global 500 report for 2021.
In a statement today, the national oil company said it also remained in the ninth spot among the brand valuation consultancy's listing of global oil and gas (O&G) brands.
Petronas’ Brand Strength Index has also improved to 87 points from 86.3 in 2020. The index is judged on a brand's performance on intangible measures relative to its competitors.
"Brand Finance attributes Petronas’ ranking to its consistent brand performance, contributing to a brand value of US$12.04 billion, despite a drop from US$15.2 billion in 2020,” Petronas said.
Brand Finance considers three key components in calculating a brand’s value -- the brand’s strength, business and economic outlook.
All 20 O&G brands on the list have seen a drop in their brand value mostly due to business and external factors.
Meanwhile, Petronas president and group chief executive officer (CEO) Tengku Muhammad Taufik has been ranked 38th in the list of 100 best global Brand Guardians 2021 and recognised among the world's top three O&G CEOs as well as the highest-ranked ASEAN CEO.
According to Tengku Muhammad, the achievement is a recognition of the tremendous contributions made by all Petronas employees.
"Petronas will endeavour to explore new growth avenues as it navigates the challenges of the global energy transition, towards unlocking more opportunities in creating further value for all our stakeholders.," he said. - Bernama
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