KUALA LUMPUR: Tenaga Malaysia Bhd is the world's 3rd strongest utilities brand and Asia's second after Kepco of South Korea with a brand value of US$2.74 billion, according to Brand Finance's latest list of "Top 50 Global Utility Brands 2020".
London-based Brand Finance said TNB was the only utilities brand from Asean in the ranking, making it the most valuable utilities brand in Asean.
"TNB, valued at US$ 2.74 billion, had a brand value increase of over 10 per cent and managed several other achievements, leading them to the forefront of the utilities sector brand rankings globally," Brand Finance said today.
TNB, however, did not make it into the top 10 list of Brand Finance's most valuable brands, although it was one of only eight AAA-rated utilities brands worldwide.
China's State Grid Corp retained its title as the world's most valuable utilities brand for the third consecutive year, after recording an 11 per cent brand value increase to US$57.0 billion.
Next was the EDF Group of France whose brand value eased 1.6 per cent to US$11.91 billion.
Majority of the brands had increased both their brand values and brand strengths, Brand Finance said.
Brand Finance managing director of Asia Pacific Samir Dixit said the strength and value of a brand was the true reflection of the management focus and return on brand investments.
Samir said TNB had done extremely well in establishing a strong and competitive brand.
"The key challenge (for TNB) will be to retain and grow the brand strength and the brand value going forward."
He said TNB had continued to focus on both the business and the people aspects during Covid-19 with uninterrupted service and strong community support via donations to states and hospitals.
"While the utilities sector may not be as negatively impacted by the Covid-19 pandemic, their challenges will remain plentiful with a global shift in demand towards clean energy.
"Only brands that will embrace and lead the clean energy challenge will be the winner in the long term," he added.