Malaysian oil and gas giant PETRONAS (brand value up 15% to USD14.6 billion), is crowned as ASEAN’s most valuable brand of the year.
Brand Finance finds that PETRONAS’ financial performance remains robust, driven by strategic shifts towards increased trading activities in crude oil and petrochemicals, which have contributed to substantial revenue increases.
Singapore’s banking brand DBS (brand value up 5% to USD11 billion) is the region’s second most valuable brand. Based on Brand Finance’s research, DBS recorded high marks in the ‘consideration’, ‘loyalty’, ‘promotion’, and ‘familiarity’ metrics, attributed to its innovative financial products, consistent customer-centric services, and extensive promotional efforts.
Vietnam’s Viettel (brand value USD8.9 billion) ranks as ASEAN’s third most valuable brand ranked in 2024. The telecoms brand’s ability to maintain its market leadership and deliver affordable, high-quality services has earned it strong brand recognition and consumer trust.
Reigning as the region’s strongest brand ranked this year is Indonesia’s BCA (brand value up 8% to USD3.1 billion), with a AAA+ brand strength rating and a Brand Strength Index (BSI) score of 93.8 of 100. Singapore’s Marina Bay Sands and Vietnam’s Vinpearl follow as the second and third strongest ASEAN brands ranked, with both brands recording a AAA+ brand strength rating.
Meanwhile, Mang Inasal (brand value up 201% to USD374 million) is this year’s fastest-growing brand in the region. The Philippines-based restaurant brand has tripled in value from last year’s USD124 million. Singapore’s Grab and SATS also show impressive brand value growth rates of 91% and 86%, respectively, as regional demand for mobility and commercial services continue to rise.
Brand Finance’s ASEAN 500 2024 report reveals that the region’s food, retail, hospitality, and leisure & tourism sectors are spearheading regional economic growth, driven by rising post-pandemic consumer spending and digital innovation.
Alex Haigh, Managing Director – Asia Pacific of Brand Finance, commented:
“As consumer demand and digital innovation drive growth, iconic brands like Vinamilk, Lazada, and Marina Bay Sands are not only leading within their sectors but also fuelling broader regional prosperity. The collective strength of these brands reflects ASEAN's unique ability to adapt and thrive, with each sector’s progress amplifying the region's overall resilience and forward momentum."  
Other highlights from Brand Finance’s ASEAN 500 2024 report:
The 2024 Sustainability Perceptions Index finds that among ASEAN brands in the rankings, PETRONAS has the highest Sustainability Perceptions Value of USD1.3 billion and also has the highest positive gap value of USD87 million among brands in the rankings.