Petronas still ‘most valuable’ in Asean - MIDA | Malaysian Investment Development Authority
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Petronas still ‘most valuable’ in Asean

Petronas still ‘most valuable’ in Asean

28 Jan 2021

CEO recognised as among O&G sector’s top 3 in the world

Petroliam Nasional Bhd (Petronas) has maintained its position as the most valuable Asean brand in the “Brand Finance Global 500” report.

The national oil company also remained in the ninth position in the brand valuation consultancy’s listing of global oil and gas (O&G) brands.

Petronas said in a statement yesterday the ranking was attributed to its consistent brand performance, contributing to a brand value of US$12.04 billion.

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

All 20 O&G brands on the Brand Finance Global 500 ranking have seen a drop in their brand value, mostly due to business and external factors, a phenomenon expected to be corrected once market conditions improve.

Petronas president and group chief executive officer (CEO) Tengku Muhammad Taufik said the achievement was a recognition of the contributions made by all employees.

He said the employees had spared no effort in working together to strengthen the brand even during challenging market conditions, by focusing on delivering progressive and sustainable energy solutions that benefited its customers around the world.

“The technological advancements achieved to date bear testimony to the group’s agility and represent a key differentiator to our business as we move further into the energy space beyond O&G.

“Petronas will endeavour to explore new growth avenues as it navigates the challenges of global energy transition, towards unlocking more opportunities in creating further value for all our stakeholders,” he said.

Meanwhile, Petronas said Tengku Taufik was ranked 38th in the list of 100 best global “Brand Guardians 2021”.

He is recognised as among the world’s top three O&G CEOs as well as the highest-ranked Asean CEO.

Other business leaders in the Brand Guardians 2021 list include Netflix’s Reed Hastings, Tesla’s Elon Musk and Apple’s Tim Cook.

Based on the world’s top companies by brand value, the Brand Guardianship Index rates CEOs to capture how well they measure up as brand managers and ambassadors.

The Brand Finance Global 500 report on the world’s most valuable brands across all sectors and countries was announced yesterday via a webinar.

Source: NST