KUALA LUMPUR: Tenaga Nasional Bhd has risen 15 spots to be ranked at 24th among Brand Finance’s Global Top 50 utility brands (Utilities 50) this year.
This represents a significant 33 per cent jump for the national utility’s brand value of US$1.58 billion from US$1.19 billion in 2016.
The London-headquartered Brand Finance, in its latest annual report on the world’s most valuable utilities brands, described TNB as the fastest growing brand in the Utilities 50 list.
TNB’s surge in ranking was achieved despite more than half of the brands in this year’s list had declined in value, including the top three Engie (France), EDF (France) and Enel (Italy).
Brand Finance also noted that TNB’s transformation program ‘Reimagining TNB’ and its moves to secure generation capacity internationally the recent acquisition of a 30 per cent stake in India-based GMR Energy Ltd (GEL) as the right steps that could yield further growth.
Among other Asian utilities in the list are KEPCO of South Korea in 5th place, 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 a 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 every year.