DBS, Marina Bay Sands and UOB have come out as Singapore's strongest brands in Brand Finance's Global 500 2024 report.
The report ranks the top 500 valuable and strongest brands in the world, of which Singapore dominated the list of ASEAN entrants with four brands out of eight in total. The brands are DBS, Marina Bay Sands, UOB and OCBC Bank.
The remaining four brands hail from Malaysia, Vietnam, Thailand and Indonesia. Of which, most posted an uptick in brand value. PETRONAS's brand value also went up 15% to US$14.6 billion. Viettel went up by 0.2% brand value to US$8.9 billion while PTT went up 25% in brand value to US$8.3 billion. Finally, Bank Rakyat Indonesia saw its brand value increase by 26% to US$5.4 billion.
DBS defends its crown for the 12th consecutive year as the most valuable brand in Singapore, with its brand value up 5% to US$11 billion. On a global rank, it maintains its comfortable lead at 193rd place.
Marina Bay Sands marked its maiden entry into the list with a brand value up 90% to US$6.2 billion. Alongside a brand strength rating improvement from AAA to highest AAA+, Marina Bay Sands' brand strength index (BSI) score improvement to 92 out of 100 has propelled the leisure and tourism brand into the rankings for the first time at 366th position among the world's most valuable brands.
UOB, on the other hand, achieved a brand value of 2% to US$5.6 billion. The bank moved up nine places to 410th position and scored an 80 out of 100 BSI score.
In 2023, DBS, Singtel and The Hour Glass took the top three spots as Singapore's strongest brands where reigning brand, DBS, saw its brand value increase by 21% to US$10.5 billion while retaining a brand strength rating of AAA.
On a global scale, Apple reclaims its title as the strongest brand and has achieved a brand value growth up 74% to US$219 billion.
Microsoft follows closer after, up 78% to US$340.4 billion. It has also seen an impressive brand value increase, jumping up two spots to second place in the global ranking.
NVIDIA receives a mention with brand value up 163% to US$44.5 billion. The tech company, according to Brand Finance's 2024 report, has become the world's fastest-growing brand.
The key supplier of chips in the AI space, NVIDIA has also been dubbed as a front-runner in the AI chip market, demonstrating a successful balance between innovation and market adaptation, according to Brand Finance.
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