President and Group CEO Tengku Muhammad Taufik ranked 38^th in the list of 100 best global Brand Guardians in 2021 and recognised as the highest-ranked ASEAN CEO
 
KUALA LUMPUR, Jan 27 (Bernama) -- PETRONAS has maintained its position as the most valuable ASEAN brand in the Brand Finance Global 500 report this year, and remained in the ninth spot amongst the brand valuation consultancy’s listing of global Oil and Gas (O&G) brands.
 
PETRONAS’ Brand Strength Index (BSI) – judged on a brand’s performance on intangible measures relative to its competitors – improved, climbing to 87 from 86.3 in 2020.
 
Brand Finance attributes PETRONAS’ ranking to its consistent brand performance, contributing to a Brand Value of US$12.04 billion, despite a drop from US$15.2 billion in 2020. Brand Finance considers three key components in calculating a brand’s value, which are the brand’s strength, business and economic outlook. All 20 O&G brands on the Brand Finance Global 500 ranking have seen a drop in their Brand Value, mostly due to business and external factors, a phenomenon expected to be corrected once market conditions improve post-COVID-19.
 
The unprecedented times have also highlighted the importance of focusing on the intangible value and brand strength by companies. Companies managing their brands well have successfully mitigated some of the decline for their brand value despite the COVID-19 pandemic crisis and uncertainty with their forecasts.
 
PETRONAS President and Group Chief Executive Officer Tengku Muhammad Taufik said: “This achievement is a recognition of the tremendous contributions made by all PETRONAS employees. They have spared no effort in working together to continuously strengthen the brand even during these challenging market conditions, by focusing on delivering progressive and sustainable energy solutions that benefit our customers around the world. The technological advancements achieved to date bear testimony to the Group’s agility and represent a key differentiator to our business as we move further into the energy space beyond oil and gas. PETRONAS will endeavour to explore new growth avenues as it navigates the challenges of the global energy transition, towards unlocking more opportunities in creating further value for all our stakeholders.”
 
Tengku Taufik, who was appointed to his current position in July 2020, was ranked number 38 in the list of 100 best global Brand Guardians for 2021 and recognised as amongst the world’s top three Oil & Gas CEOs as well as the highest-ranked ASEAN CEO. Other notable business leaders in the Brand Guardians 2021 list include Netflix’s Reed Hastings, Tesla’s Elon Musk and Apple’s Tim Cook. 
 
Based on the world’s top companies by brand value, the Brand Guardianship Index rates CEOs to capture how well they measure up as brand managers and ambassadors. Similar to its Brand Strength Index, Brand Finance’s new metric score of 0-100 considers multiple inputs reflecting CEOs’ success in Investment, Guardian Equity and Performance.
 
The 2021 iteration of the Brand Finance Global 500 report on the world's most valuable brands across all sectors and countries was announced today via a webinar.
 
Issued by
Media Engagement Department
Group Strategic Communications
PETRONAS
 
  
About PETRONAS
 
Petroliam Nasional Berhad (PETRONAS) is a global energy and solutions company, ranked amongst the largest corporations on Fortune Global 500®️.
 
We seek opportunities in energy investments both in hydrocarbon and renewables across the globe and maximise value through our integrated business model. Our portfolio includes conventional and unconventional resources as well as a diverse range of fuel lubricant, and petrochemical products. This is further strengthened with a successful product delivery track record. Our customers are at the heart of everything that we do, and our businesses are anchored on meeting their needs. 
 
Our technology is our differentiator and the key to ensuring excellence in all that we offer – energy, products and solutions, as well as unlocking new business frontiers. Sustainability is at the core of everything that we do, as we believe in harnessing the good in energy to add quality to everyday lives. People are our strength and partners for growth. We believe in progressing with our partners in addressing the evolving needs in today’s changing energy landscape.
 
For further information, please visit www.petronas.com 

Source: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Praevitriana Yuliawiratman
Tel: +60 19 214 4056 
Email: praevitriana.yuliaw@petronas.com

Name: Lim Wei Wen
Tel: +60 12 322 3476 
Email: weiwen.lim@petronas.com
 
--BERNAMA