Malaysia's food and insurance brands flourish


Report highlights remarkable growth and resilience in key sectors

ACCORDING to a recent report by Brand Finance, Malaysia’s food and insurance brands have been performing well this year, with a combined value of US$815 mil.

A total of 11 food brands, with a combined value of US$1.6 bil, moved up from being the ninth to eighth largest contributor in 2024.

Guan Chong leads among Malaysian food brands in terms of the largest brand value growth, with a 48% increase to US$64mil.

Following closely behind are Felda Global Ventures, experiencing a 32% rise in brand value to US$433mil, and KLK, with a 30% increase to US$433mil.

Meanwhile, PETRONAS, with a brand value of up to 15% to US$14.6bil, has retained its title of most valuable Malaysian brand in Brand Finance rankings for the 14th year in a row.

Taking the second and third spots are Genting, despite a 2% decrease in brand value to US$3.5bil, and Maybank, which experienced a 14% decline to US$3.4bil.

Both brands held positions in the top three in 2023, with Genting climbing from third place and Maybank dropping from its second-place position the previous year.

Dutch Lady Milk emerges strongest among top brands in Malaysia.Dutch Lady Milk emerges strongest among top brands in Malaysia.

Dutch Lady Milk, despite a 21% decrease in brand value to US$199mil, made a significant leap of eight places from the previous year, securing the title of the strongest Malaysian brand among the nation’s most valuable brands in 2024.

Achieving a brand strength rating of AAA compared to AAA- in 2023, the brand also saw an increase in its BSI score by 8.1 points to 88.2 of 100.

In the second and third positions are PETRONAS, with a 15% increase in brand value to US$14.6bil, and the newcomer Mr DIY, with a brand value of US$537mil.

Malaysia Airports saw the most substantial brand value growth, surging by 53% to reach US$101mil, topping the list of the most valuable Malaysian brands this year.

Following closely behind is the logistics brand MISC, with a brand value up 49% to US$511mil, and Guan Chong in third place, with a 48% rise in brand value to US$64mil.

In terms of brand value rank, Malaysia Airports soared 14 places to rank as the 62nd most valuable brands, while MISC moved up four places to 22. Guan Chong climbed up 10 places to 75.

Haigh says Malaysia's food and insurance sectors are growing despite global economic uncertainties, thanks to proactive government support for domestic businesses.Haigh says Malaysia's food and insurance sectors are growing despite global economic uncertainties, thanks to proactive government support for domestic businesses.

Brand Finance Asia Pacific managing director Alex Haigh, says that despite global economic uncertainties, Malaysia's food and insurance sectors are experiencing growth.

He attributes this growth, in part, to the government's proactive measures in supporting domestic businesses.

“Food industry leader Guan Chong and Islamic finance powerhouse Takaful IKHLAS exemplify this growth by leading their respective sectors in brand value.

“Their success stories reveal the importance of a well-defined brand strategy aligned with Malaysia's competitive advantages,” says Haigh.

He adds that Guan Chong, a dominant force in food processing, has excelled by leveraging its brand strength and market leadership to capitalise on rising food prices.

“Similarly, Takaful Ikhlas' strategic focus on Islamic financial products and its success in expanding its general takaful offerings have positioned them for significant growth within a thriving market,” Haigh explains.

PETRONAS, Genting and Maybank topped the list for most valuable Malaysian brands.PETRONAS, Genting and Maybank topped the list for most valuable Malaysian brands.

Brand Finance also utilises its Global Brand Equity Monitor (GBEM) research to compile a sustainability perceptions index.

The study determines the role of sustainability in driving brand consideration across sectors and offers insights into which brands global consumers believe to be most committed to sustainability.

For individual brands, the index displays the proportion of brand value attributable to sustainability perceptions ‒ a financial value contingent on a brand’s reputation for acting sustainably.

From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s environmental, social and governance (ESG) performance data to determine a brand’s ‘gap value’.

This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.

The 2024 sustainability perceptions index finds that among Malaysian brands, PETRONAS has the highest sustainability perceptions value of US$1.3bil.

PETRONAS leads when it comes to sustainability perception.

It also has the highest positive gap value of US$87mil among brands in the rankings.

A positive gap value means that brand sustainability performance is stronger than perceived: brands can add value through enhanced communication about their sustainability efforts, so that perceptions are raised to fully account for the brand’s actual sustainability performance.

Metro’s gap value suggests that it could generate an additional US$87mil in potential value through enhanced communication of its impact and accomplishments in sustainability.

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