KUALA LUMPUR: Tenaga Nasional Bhd (TNB) rose 15 spots to rank 24th in Brand Finance’s Global Top 50 utility brands in 2017, or Utilities 50 (2017).
In a statement today, TNB said, this represented a significant 33% jump for the national utility corporation’s brand value of US1.58 billion (RM7 billion) from US$1.19 billion in 2016.
The London-headquartered Brand Finance, in its latest annual report on world’s most valuable utilities brands, described TNB as the fastest growing brand in the Utilities 50 list.
TNB’s rank improvement was achieved despite more than half the brands in this year’s list declining in value, including the top three – Engie (France), EDF (France) and Enel (Italy), it said.
Brand Finance also noted that TNB’s transformation programme, Reimagining TNB, and moves to secure international generation capacity and the recent 30% stake acquisition in India-based GMR Energy Ltd, as the right steps to yield further growth.
Among other Asian utilities listed in Brand Finance Utilities 50 were Kepco (South Korea – 5th), Tepco (Japan – 11th), Chubu (Japan – 18th), Kogas (South Korea – 19th), Kansai (Japan – 30th) and Tata Power (India – 47th).
The Utilities 50 brand valuation report offers a cost-effective way for companies to gain better understanding of their position against competitors.
Brand Finance, a branded business valuation and strategy consultancy, values over 3,500 brands across all sectors and geographies yearly. — Bernama
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