DBS has ranked the first in the top 10 valuable Singapore brands list, maintaining it for the sixth consecutive year. Competitively close are local banks OCBC and UOB taking the second and third ranking respectively. DBS remains the most valuable Singapore brand for 2018, growing its brand value by 14% to US$6.4 billion.
Managing director of Brand Finance Asia Pacific Samir Dixit said that DBS has seen an increase of value as it grew by over US$1 billion in brand value from last year. He attributed it to its geographic presence outside of Singapore that aids in faster growth compared to the other banks in Singapore. DBS has acquried ANZ which grew its brand value by approximately US$400 million, calculated at the time of the acqusition, Dixit added.
OCBC and UOB each grew its brand value 11% to US$4 billion and 12% to US$3.7 billion, respectively over the past year.
Brand value yet to reach market cap ratios
In a statement to Marketing, Dixit said that while top Singapore brands are growing each year, those outside of the top 10 "come and go" and growth has been "slow to diminishing". He added that there is a volatility of the brands and business stability amongst Singapore companies.
"Singapore had declared its intent to be the IP hub of Asia many years ago," Dixit said. However, most Singapore companies have performed below average brand value compared to market cap ratios.
According to Dixit, the brand teams in most companies are advertising campaign managers, communications specialist and logo policing experts who lack the sight and strategy to grow the brand value, and the shareholder/investor returns using the brand.
The rankings are based on BrandFinance's 2018 report on top 100 valuable Singapore brands which measures overall brand value of the company. The score takes into account the strength of the brand based on the brand strength index modelling using client specific data brand extensive equity research from the market. It is then identified with the brand's business mix and geographic presence. Future market growth and revenue growth are factored in the calculations to position the brands in the rankings.
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