According to Brand Finance’s Global 500 2024 report which ranks the 500 most valuable and strongest brands in the world, Singapore dominated the list of ASEAN entrants with four brands out of eight in total: DBS (brand value up 5% to USD11 billion), Marina Bay Sands (brand value up 90% to USD6.2 billion), UOB (brand value up 2% to USD5.6 billion) and OCBC Bank (brand value down 8% to USD5 billion).
The remaining half of the eight ASEAN brands listed hail from Malaysia, Vietnam, Thailand and Indonesia. Most posted an uptick in brand value: PETRONAS (brand value up 15% to USD14.6 billion), Viettel (brand value up 0.2% to USD8.9 billion), PTT (brand value up 25% to USD8.3 billion) and BRI (Bank Rakyat Indonesia) (brand value up 26% to USD5.4 billion).
PETRONAS kept its 13-year track record as ASEAN’s most valuable brand since 2011 and leapt 13 places to 141 rank out of the 500 most valuable brands in the world. The Oil & Gas brand’s 15% increase in brand value was driven by improving forecasts, in turn fuelled by strong brand strength despite a two-point Brand Strength Index (BSI) score decline to 88 out of 100. It also maintained an AAA brand strength rating.
BRI, Indonesia’s only entrant in the rankings and the nation’s most valuable brand, advanced 111 places to be ranked as the world’s 446th most valuable brand.
Global Results
Apple has achieved exceptional brand value growth this year, increasing by USD219 billion (74%) to USD517 billion, reclaiming its title as the world’s most valuable brand by a huge margin.
Brand Finance research found significant gain amongst brands that have heavily invested in AI, seeing NVIDIA (brand value up 163% to USD44.5 billion) become the world’s fastest-growing brand. Microsoft (brand value up 78% to USD340.4 billion) has also seen an impressive brand value increase, jumping up two spots to 2nd place.
