KUALA LUMPUR: Petronas has once more held on to the title of most valuable Malaysian brand for the 14th year in a row, according to a new report by Brand Finance, the world's leading brand valuation consultancy.
Petronas' brand value edged up 15 per cent to US$14.6 billion.
Following in second and third place respectively are Genting (brand value down 2.0 per cent to US$3.5 billion) and Maybank (brand value down 14 per cent to US$3.4 billion).
Both were also in the top three spots in 2023, with Genting rising from the third place and Maybank slipping down from second last year.
Malaysian food and insurance brands emerged as clear winners, ahead of retail brands (brand value at US$815 million), as the eighth and 10th largest contributors in brand value respectively.
With a combined brand value of US$1.6 billion, the 11 food brands ranked moved up from being the ninth to eighth largest contributor in 2024.
Leading Malaysian food brands in Brand Finance's rankings with the largest brand value growth are Guan Chong (brand value up 48 per cent t to US$64 million) followed by Felda Global Ventures (brand value up 32 per cent to US$433 million) and KLK (brand value up 30 per cent to US$433 million).
Climbing up eight places from last year, Dutch Lady Milk (brand value down 21 per cent to US$199 million) clinched the title of the strongest Malaysian brand ranked among the nation's most valuable brands in 2024.
Achieving a brand strength rating of AAA compared to AAA- in 2023, the food brand also saw an increase in its BSI score by 8.1 points to 88.2 of 100.
Occupying the subsequent second and third places are Petronas – last year's strongest – and new entrant in the rankings, Mr D.I.Y (brand value at US$537 million).
Malaysia Airports recorded the largest brand value growth of 53 per cent to US$101 million among most valuable Malaysian brands listed this year.
Logistics brand MISC (brand value up 49 per cent to US$511 million), comes behind with the second largest brand value growth followed by food brand Guan Chong in third.
In terms of brand value rank, Malaysia Airports soared 14 places to rank as the 62nd most valuable brands ranked, while MISC moved up four places to 22nd and Guan Chong climbed up 10 places to 75th.
Alex Haigh, managing director of Brand Finance Asia Pacific, said despite global economic uncertainties, Malaysia's food and insurance sectors are experiencing growth.
This can be attributed, 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.
