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1、Singapore 100 2024 The annual report on the most valuable and strongest Singaporean brands April 2024Brand Finance Singapore 100 2 2024 All rights reserved.Brand Finance Plc.ContentsAbout Brand Finance 3Foreword 4Alex Haigh,Managing Director,Brand Finance Asia PacificRanking Analysis 7Sector Analysi

2、s 17Brand Value Ranking(USDm)24Methodology 26Our Services 32Our teams have experience across a wide range of disciplines from marketing and market research,to brand strategy and visual identity,to tax and accounting.Unique combination of expertiseBrand Finance,a chartered accountancy firm regulated

3、by the Institute of Chartered Accountants in England and Wales,is the first brand valuation consultancy to join the International Valuation Standards Council.Our experts crafted standards(ISO 10668 and ISO 20671)and our methodology,certified by Austrian Standards,is officially approved by the Market

4、ing Accountability Standards Board.Priding ourselves on technical credibilityWe put thousands of the worlds biggest brands to the test every year.Ranking brands across all sectors and countries,we publish over 100 reports annually.Quantifying the financial value of brandsBrand Finance was set up in

5、1996 with the aim of bridging the gap between marketing and finance.For more than 25 years,we have helped companies and organisations of all types to connect their brands to the bottom line.Bridging the gap between Marketing and FinanceAbout Brand FinanceThe worlds leading brand valuation consultanc

6、y.For business enquiries,please contact:Alex HaighManaging Director,Asia PFor media enquiries,please contact:Gayathri Saravana KumarMarketing Director,Asia PFor all other enquiries:+44 207 389 ForewordBrand Finance Singapore 100 4Alex Haigh Managing Director,Brand Finance Asia PacificWhat makes a br

7、and valuable?That is the question this study answers.Determining brand value starts with customers.They exercise their influence by expressing their preferences.Customer perceptions are influenced by many factors including a brands commitment to them,cutting edge technology,innovative service delive

8、ry and adaptability to changing market demands.Such initiatives determine whether brands move up or down in our rankings.Brand Finances brand valuation study begins by gathering individual perceptions about brands.Over 100,000 respondents worldwide,including over 25,000 respondents in the Asia Pacif

9、ic region,provide their views which are then analysed.This part of the study covers brand awareness,consideration and many measures of brand reputation,producing an understanding of a brand strength.Next,to define brand value,we combine this analysis of brand perceptions with financial analysis of t

10、he business the brand is used for.The heart of what we do is to“bridge the gap between marketing and finance”to help communicate the benefits of marketing and branding to financial teams.We can determine the underlying factors driving brand value thereby informing decisions on brand positioning and

11、marketing tactics such as promotions,products,services and pricing.In addition,establishing common ground allows marketers to articulate the importance of their efforts and enables boards to prepare strategies that optimise performance.Understanding the precise financial value of an asset is crucial

12、 for optimising returns.Whether considering brand licensing,selling,discontinuing brands,rebranding or organising brand architecture,having this knowledge is essential for informed decision-making.Brand Finance has conducted thousands of valuations for brands and branded businesses,providing insight

13、s to help address these questions and guide strategy.The impact of comprehending your brands value and fully leveraging it will help to drive growth,profitability and worldwide popularity.We hope you find this study and its insights interesting and that it enables you to explain and improve the valu

14、e of brands in businesses you are working in or advising.Your enquiries are also important to us please contact me if you are looking to understand and build brand value and brand strength.My team and I look forward to our conversation to boost your brands Gain InsightLeverage strategic insights to

15、enhance your brands financial standing.Strategise effectively to position your brand as a market leader.Strategic GuidanceBenchmark your brand against industry standards for a competitive edge in the corporate landscape.Benchmark Your PerformanceEmpower your marketing team with comprehensive knowled

16、ge about your brands financial value.Empower Your Marketing TeamOptimise communication channels by understanding and articulating your brands financial significance.Enhance CommunicationDeepen your financial acumen and make well-informed decisions for corporate success.Deepen UnderstandingRequest yo

17、ur own Brand Value ReportBrand Finances Brand Value Report provides a complete breakdown of the assumptions,data sources,and calculations used to determine your brands value,as well as brand equity research.Each report includes expert recommendations for growing brand value,driving performance,and g

18、aining insights into your position against +6,000 brandsOriginal market research on global,market and sector leading brands.Comprehensive coverage for market specific learnings that inform decision making.41 countriesBenchmark your brand against competitors and leverage industry level insights to em

19、power your strategy.31 sectorsRobust market representation for a global perspective.+150,000 respondentsTake a longer view to track and learn from fast growing brands,market disrupters,and market leaders.Understand your brands standing in the market,what its known for relative to the competition,and

20、 what drives customer decision making so you can create a roadmap for success.8th consecutive yearStrategic InsightBrand Finances Global Brand Equity Monitor Research utilises a comprehensive framework to track and measure the core building blocks that underpin strong brands,while delivering nuanced

21、 insights that direct strategy for understanding,maintaining and building brand strength.Brands,and customer relationship with brands,are complex.As such they require attention,direction and measured support if theyre to fulfil their potential.Our brand equity reports deliver expert insight and reco

22、mmendations to power your brand strategies and valuation.Get Full Access to our Global DataRanking AnalysisMost valuable Singaporean retail brands post strong gains amidst tepid 2023 economic growth +Retail brands more than double their brand value to USD4.3 billion in 2024,outpacing engineering bra

23、nds(USD4.2 billion)and real estate brands(USD3.3 billion)+DBS reigns as most valuable Singaporean brand 12 years running;Marina Bay Sands and UOB in second and third+Marina Bay Sands towers in brand strength as strongest brand in rankings,followed by DBS and Singtel+Retails brands ValueMax and Maxic

24、ash cash in as brands with largest brand value growth+DBS leads with the highest Sustainability Perceptions Value while Metro has the highest positive gap valueBrand Finance Singapore 100 9Ranking AnalysisRetail brands more than double their brand value to USD4.3 billion in 2024,outpacing engineerin

25、g brands(USD4.2 billion)and real estate brands(USD3.3 billion)With the combined brand value of all 12 retail brands standing at approximately USD4.3 billion,retail brands surged from ninth largest contributor to the total brand value of all 100 brands in our rankings to fifth largest,outpacing engin

26、eering and real estate brands.Two retail brands,namely ValueMax(brand value up 158%to USD68 million)and Maxicash(brand value up 114%to USD67 million),recorded remarkable triple-digit brand value increases.Lazada,one of Southeast Asias largest and famous e-commerce retail brands,joins the list this y

27、ear as the most valuable Singaporean retail brand and 8th most valuable overall,with a brand value of USD2.1 billion.Accounting for an estimated 6%of the total brand value of all listed brands,six of the 10 engineering brands in our rankings experienced double-digit brand value growths,led by SIA En

28、gineering(brand value up 20%to USD153 million)as the largest brand value growth performer.This brings the sectors combined brand value to USD4.2 billion,an increase of 15%from last year.Meanwhile,the real estate sectors 15 brands contributed to approximately 5%of the total brand value of Singapores

29、100 most valuable brands,with OUE(brand value up 96%to USD155 million)being the brand value growth leader.Collectively,the brand value of real estate brands grew 19%to USD3.3 billion.The impressive brand value growth observed across various sectors in Singapore is led by the nations economic growth,

30、estimated at 1.1%for 2023.The nations economic expansion is expected to create a fertile ground for brands to flourish,fostering consumer spending,increasing investment opportunities and facilitating business expansion while the performance of the retail sector,with nine of 12 brands posting double-

31、digit brand value growths in this years rankings,aligns with Singapores growing importance as a retail hub in Southeast Asia.In 2024,the outlook for the Singaporean economy remains cautiously optimistic as the global economic slowdown may pose some challenges.However,Singapores strategic position as

32、 a trade and financial centre,along with its focus on innovation and technology,are expected to mitigate these risks as analysts predict the nations Gross Domestic Product indicator to moderate to around 1%and 3%in 2024,with continued strength in domestic demand and a gradual recovery in global trad

33、e expected to support key economic activity.Brand Finance Singapore 100 10The impressive brand value growth across various sectors in our 2024 report underscores the strength of Singapores economic environment.This stability,coupled with the robust performances of retail,engineering and real estate

34、brands,creates a fertile ground for Singaporean brands to flourish.As the economy continues its projected growth in 2024,we expect to see this trend continue,nurturing further expansion and success for Singaporean brands across all sectors.Alex HaighManaging Director,Brand Finance Asia PacificTop 10

35、 Most Valuable Singaporean Brands 2024 Brand Finance Plc.2024Ranking Analysis109876-+6%+30%1131$2.1 bn$1.6 bn$1.5 bn0+4%$3.5 bnt+1%$2.2 bnbDoh41532+5%-+2%-8%-2%03111$11.0 bn$6.2 bn$5.6 bn$5.0 bn$4.0 bnvggHgBrand Finance Singapore 100 11DBS reigns as most valuable Singaporean brand 12 years running;M

36、arina Bay Sands and UOB in second and third Once again,DBS(brand value up 5%to USD11 billion)reigns as the most valuable Singaporean brand,marking its 12th consecutive year.In terms of brand strength,DBS Brand Strength Index(BSI)score increased by 1.6 points to 88.0 of 100 and kept its brand strengt

37、h rating of AAA.Clinching second place in our rankings of most valuable brands is new entrant Marina Bay Sands(MBS)with a brand value of USD6.2 billion,followed by UOB(brand value up 2%to USD5.6 billion)in third.DBS has shown significant growth in research metrics on customer service and marketing e

38、fforts,as well as good scores on metrics pertaining to perceptions of its data security and value for money.Upkeeping its brand strength,DBS and Keppel(brand value up 12%to USD856 million)signed a memorandum of understanding in September 2023 to scale up sustainable urbanisation and digitalisation s

39、olutions in Asia,focusing on DBS increasing presence in India.This collaboration aims to speed up the adoption of energy optimisation and sustainable solutions by companies in energy-intensive sectors.MBS made an impressive entrance into our rankings,performing well in both brand value and brand str

40、ength.The brand recorded an impressive BSI score of 91.8 of 100 and corresponding brand strength ranking of AAA+.Following strong financial performance last year,MBS invested an additional USD750 million into improving its luxury offerings,bringing the total to USD1.75 billion.The refurbishment prog

41、ram will be executed in phases till 2025 and includes MBS Tower 3,the lobby and Sands SkyPark.Meanwhile,UOB recorded a BSI score increase of 0.5 points to 80.5 of 100,preserving its brand strength rating of AAA-.The brand recorded strong scores on research metrics on perceptions of data security and

42、 marketing efforts.In November 2023,UOB completed the acquisition of Citigroups consumer banking business in Indonesia,adding to its markets in Malaysia,Thailand and Vietnam.With its consumer growth targets five years ahead of time,UOB is closer to its aim of becoming Singapores premier regional ban

43、k.Ranking AnalysisBrand Finance Singapore 100 12Marina Bay Sands towers in brand strength as strongest brand in rankings,followed by DBS and Singtel Marking a strong foray into the rankings,leisure&tourism brand Marina Bay Sands(MBS)is the strongest brand among the most valuable Singaporean brands t

44、his year.Notably,MBS also holds the title of fourth strongest brand among the worlds 500 most valuable brands,according to Brand Finances Global 500 2024 report released in January.MBS dazzles with a stellar BSI score of 91.8 of 100 and corresponding brand strength ranking of AAA+which is the maximu

45、m obtainable.Meanwhile,DBS and Singtel hold the titles of second strongest and third strongest brand in our rankings respectively.MBS(brand value at USD6.2 billion)winning strategy sees it pursue partnerships to enhance its brand strength and offerings for customers.In 2023,MBS entered a multi-year

46、partnership with Scuderia Ferrari,the Formula 1 team of luxury brand Ferrari for the Singapore Grand Prix.The collaboration featured exclusive hotel packages and various activations,with Formula 1 drivers Charles Leclerc and Carlos Sainz involved in partnership activations at the resort.Ranking Anal

47、ysisTop 10 Strongest Singaporean Brands 2024 Brand Finance Plc.2024109876+10.5+2.1+0.5222280.880.580.52+13.085.1B+0.981.6tBbg41532-+1.6-2.2-0.1-0.93210191.888.086.285.985.5gHcDvBrand Finance Singapore 100 13Ranking AnalysisDBS moved up one rank in terms of brand strength to claim the title of second

48、 strongest brand in our rankings.The banking brand posted a BSI score increase of 1.6 points to 88.0 of 100 and brand strength rating of AAA.DBS,with a brand value increase of 5%to USD11 billion,remains committed to upkeeping its brand strength via various marketing campaigns.The brand launched its“

49、5 Million Hawker Meals subsidy”in 2023,amidst the rising cost of living,providing residents with subsidised meals when they use the DBS PayLah!app to pay at any wSGQR-enabled hawker stall.The campaign was well-received,with approximately 2.3 million hawker meal subsidies redeemed.Taking the position

50、 of third-strongest brand among the nations most valuable brands is Singtel.The telecoms brands BSI score fell by 2.2 points to 86.2 of 100 but maintained its brand strength rating of AAA.Similarly,its brand value fell by 2%to USD4 billion.Singtel continues to enhance its brand presence regionally.F

51、ollowing increased tourism within Southeast Asia,Singtel formed partnerships with AIS(brand value up 4%to USD3 billion),Globe Telecom(brand value down 4%to USD1.9 billion),HKT(brand value down 1%to USD1.5 billion),Optus(brand value up 15%to USD2.5 billion),Taiwan Mobile(brand value up 9%to USD3.6 bi

52、llion)and Telkomsel to launch a cross-border rewards program for travellers where these telecoms are based.Brand Finance Singapore 100 14Brand Value Change 2023-2024(%)Brand Finance Plc.2024Ranking Analysis158%114%96%91%86%71%63%53%41%41%SATS LTD.CRe ATInG SuSTAInAbLe GRo w Th ANNu Al Repo RT 2012-1

53、3Retails brands ValueMax and Maxicash cash in as brands with largest brand value growth The largest brand value gainers in this years ranking of the most valuable Singaporean brands hail from the retail sector,although retail sales in the nation turned negative in Q4 2023 due to higher outbound trav

54、el and inflation having an impact on discretionary spending.ValueMax(brand value up 158%to USD68 million)lays claim to being the brand posting the largest uptick this year in terms of brand value percentage growth,followed by Maxicash(brand value up 114%to USD67 million).ValueMax attained a brand st

55、rength rating of A this year,along with a BSI score of 57.3 points of 100.It secured the 68th position among Singapores most valuable brands.The brand is optimistic about growing demand for pre-owned jewellery,in alignment with consumers increasing focus on environmental sustainability.In this regar

56、d,ValueMax expanded its operations last year,inaugurating in the nation three new pawnbroking and retail outlets alongside an Islamic pawnbroking outlet bringing the total number of its establishments to 49.On the environmental,social and governance(ESG)front,the brand expanded its community partner

57、ship network,working with four new community organisations and corporate-founded charities.These include Touch Community Services a non-profit organisation committed to serving individuals and families in need and the EtonHouse Community Fund an independent charity founded by the EtonHouse Internati

58、onal Education Group in 2015.Coming in 69th place,Maxicash achieved a BSI score of 60.4 points of 100 and brand strength rating of A+.Last year,the brand maximised the hype surrounding artificial intelligence(AI)-generated personalities to connect with younger audiences,introducing its AI-powered br

59、and ambassador,HAILEY K,in October 2023.Maxicash also leveraged the introduction of HAILEY K to promote its emphasis on sustainability,commenting that tapping into AI would help it reduce carbon footprint from photoshoots and travel involving the use of human talents.The brand was also recognised fo

60、r its commitment to employee well-being,having secured a position in The Straits Times Singapores Best Employer 2023 listing.This marks Maxicashs first consecutive achievement since 2022.Brand Finance Singapore 100 15Top 10 Singaporean Brands by Sustainability Perceptions Value Brand Finance Plc.202

61、4Ranking Analysis109876E:1.01 S:1.00 G:1.01E:1.02 S:0.98 G:1.00E:0.96 S:0.96 G:0.97E:1.06 S:1.03 G:1.05E:1.01 S:1.02 G:1.00$199 m$152 m$127 m$277 mt$222 mCDbh41532E:1.11 S:1.08 G:1.09E:1.07 S:1.09 G:1.09E:1.02 S:1.01 G:1.02E:1.01 S:1.03 G:1.02E:1.04 S:1.04 G:1.05$822 m$618 m$391 m$344 m$329 mvggHgUS

62、Dxx=Sustainability Perceptions Value x.x=Sustainability Perceptions Score/Sector MedianDBS leads with the highest Sustainability Perceptions Value while Metro has the highest positive gap value Brand Finance also utilises its Global Brand Equity Monitor(GBEM)research to compile a Sustainability Perc

63、eptions Index.The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability.For individual brands,the Index displays the proportion of brand value attributable to sust

64、ainability perceptions.This Sustainability Perceptions Value is the financial value contingent on a brands reputation for acting sustainably.From here,Brand Finances perceptual research is analysed alongside CSRHubs ESG performance data to determine a brands gap value.This is the value at risk or to

65、 be gained,based on the difference between sustainability perceptions and actual performance.Brand Finance Singapore 100 16Ranking AnalysisTop 10 Sustainability Gap Values 2024(Singaporean Brands)Brand Finance Plc.2024$23 m$19 m$12 m$8 m$7 m$6 m$5 m$4 m$4 m$3 mThe 2024 Sustainability Perceptions Ind

66、ex finds that among brands in the rankings,DBS has the highest Sustainability Perceptions Value of USD822 million.DBS continues to further its ESG progress and communicate these efforts effectively.For instance,DBS partnered with Enterprise Singapore to launch the ESG Ready Programme this year to he

67、lp local businesses strengthen their sustainability capabilities.This holistic programme will help small and medium enterprises(SMEs)to mid-size corporations recognise the importance of sustainability and implement decarbonisation strategies,with DBS offering financing solutions at preferential rate

68、s.In assessing the gap between sustainability perceptions and performance,Metro has the highest positive gap value of USD23 million among brands in the rankings.As mentioned above,a positive gap value means that brand sustainability performance is stronger than perceived:brands can add value through

69、 enhanced communication about their sustainability efforts,so that perceptions are raised to fully account for the brands actual sustainability performance.Metros gap value suggests that it could generate an additional USD23 million in potential value through enhanced communication of its impact and

70、 accomplishments in sustainability.Metros commitment to its corporate social responsibility could benefit from greater visibility.The brands initiatives focus on positively impacting childrens education and the elderly.One such example is its Service Weeks initiative.In 2023,Metro partnered with the

71、 North West Community Development Council to distribute 295 care packages to residents under the Public Rental Housing Scheme.Since its inception in 2014,the initiative has reached more than 163,000 residents.Sector AnalysisBrand Finance Singapore 100 18Sector AnalysisBanking Singapores banking sect

72、or saw top banking brands report record earnings supported by higher interest rates in 2023.This boosted their incomes while helping to mitigate rising funds costs.Globally,the expansion of Net Interest Margins slowed due to rising interest rates managed by the US Federal Reserve and regional centra

73、l banks in their attempts to control inflation.In addition,expectations for slower global economic growth suggest subdued loan growth.Conversely,the reopening of Chinas market presents potential opportunities for increased loan growth in the nation.Additionally,improving market and sociodemographic

74、conditions may lead to income boost from wealth management,fund management fees and trading activities.Notably,banking brands are the largest contributor to our rankings,making up 32%of the total value of all listed brands.Compared to 2023,the combined brand value of all five banking brands increase

75、d by approximately 1%to USD21.8 billion.Singapores top five most valuable banking brands in our rankings are DBS,UOB,OCBC Bank,UOB Kay Hian and Hong Leong Finance.DBS(brand value up 5%to USD11 billion)leads as the most valuable brand overall in our rankings.It also holds the title of second stronges

76、t Singaporean brand in our rankings with a BSI score increase of 1.6 to 88.0 points of 100 and a brand strength rating maintained at AAA.Following the rise of financial scams in Singapore,DBS is actively boosting its security features to safeguard the interests of its customers.In February this year

77、,DBS launched an extension of its security feature digiVault protection,allowing customers to lock up funds in existing accounts from being accessed digitally.DBS aims to double the number of customers using its security features within the next year through enhanced features and intensified anti-sc

78、am education.UOB recorded a growth in brand value of 2%to USD5.6 billion,a BSI score increase of 0.5 points to 80.5 of 100 and a corresponding brand strength rating of AAA-.It fell one spot to 3rd most valuable Singaporean brand.Riding on the wave of recovering tourism,UOB entered into a partnership

79、 with the Singapore Tourism Board(STB)and MBS in January this year.Brand Finance Singapore 100 19Sector AnalysisThis collaboration aims to enhance the Marina Bay precinct for visitors in the form of lifestyle and entertainment programming with more than 19 precinct stakeholders.The partnership kicke

80、d off with a Lunar New Year drone light show at the Marina Bay waterfront in February,drawing in crowds.As the third most valuable Singaporean banking brand in our ranking,OCBC Bank recorded a brand value decrease of 8%to USD5 billion,also falling one position to 4th overall in our rankings.Similarl

81、y,its BSI score fell by 3.0 points to 78.1 of 100,with a corresponding drop in brand strength rating from AAA-to AA+.OCBC Bank continues to pursue strategic partnerships,enhancing its suite of services for its customers.In 2023,the brand established a partnership with Ant Group to enable Alipay+tran

82、sactions through its OCBC Digital app.This allows its customers to make payments at Alipay+QR-enabled merchants when they travel to China,Malaysia and South Korea.With the services strong reception in 2023,OCBC expects to facilitate 250,000 cross-border QR payments this year.UOB Kay Hians brand valu

83、e fell 27%to USD134 million.Similarly,its BSI score dropped 7.3 points to 59.5 of 100 alongside a brand strength rating decline from AA-to A+.The brand fell ten places to 56th most valuable among Singaporean brands.Last year,UOB Kay Hian received The Straits Times Singapores Best Customer Service 20

84、23/24 award for the Brokerage category,in recognition of its commitment to delivering excellent customer service.Some of its initiatives include the launch of a corporate action portal on its UTrade platform and the revamping of its client servicing technologies and systems.Hong Leong Finance record

85、ed a brand value increase of 14%to USD47 million.Meanwhile,the brand kept up its brand strength rating of A-,only recording a marginal decrease in BSI score by 0.02 points to 54.0 out of 100.The brand dropped nine positions to 75th.Hong Leong Finance remains committed to digitalising its offerings.F

86、or example,it forged partnerships with leading automobile distributors to enable efficient car loan applications with the use of API integration.In 2024,the brand aims to launch HLF Digital,an online financial transaction platform for its customers.In recognition of these efforts,the brand was award

87、ed the ASEAN Finance Company 2023 Award,presented by Asian Banking and Finance.Brand Finance Singapore 100 20Sector AnalysisReal Estate As of January this year for real estate,Singapore is among the top four markets for institutional investments,with the most sought-after asset classes being in hosp

88、itality,logistics and retail among others.Non-institutional investors with smaller budgets are also drawn by the countrys stability and economic resilience.Such investors,usually having smaller budgets,will often look towards buying strata offices and shop houses in addition to the usual asset class

89、es mentioned above.With a total of fifteen brands,the real estate sector accounts for approximately 5%of the total value of all listed Singaporean brands in our rankings.This makes the sector the seventh largest contributor,with the combined value of real estate brands showing a 19%increase to USD3.

90、3 billion.The top 5 most valuable Singaporean real estate brands are Mapletree,CapitaLand Investment,UOL,Guocoland and City Developments.Mapletree(brand value up 15%to USD601 million)slipped two spots to place as the 27th most valuable Singaporean brand.However,it managed to improve its BSI score by

91、 13.0 points to 85.1 of 100,as well as its brand strength rating to AAA from AA last year,making it the sixth strongest brand in our rankings as well.In January 2023,the brand partnered with the National University of Singapore(NUS)College of Design and Engineering(NUS CDE)to hold a public education

92、 exhibition at Singapores Vivocity shopping mall,entitled“From Waste to Useful Aerogel:Upcycling for Sustainability”.This allowed NUS CDE to showcase its developed green aerogel and served as an extension of Mapletrees donation to NUS in 2020 for further research into green aerogel technology.Capita

93、Land Investment(brand value up 4%to USD579 million)fell five places to become the 28th most valuable brand in our rankings but clinched a brand strength rating of AAA-compared to AA from 2023.Its BSI score also rose by 10.5 points to 80.8 of 100,making it the eighth strongest brand among Singapores

94、most valuable brands.In April this year,CapitaLand commenced a collaboration with Kallang Alive Sport Management through a Ride The Waves Rhythm Festival.Brand Finance Singapore 100 21Sector AnalysisHeld at OCBC Square,it consisted of showcasing local talents among other multi-sensory community expe

95、riences,as well as cashback rewards received through shopping or dining at Kallang Wave Mall.UOL(brand value up 13%to USD388 million)achieved a brand strength rating of AA-,an improvement from A+in 2023.In a similar fashion,it saw an increase in its BSI score of 4.6 points to 68.0 of 100.The brand d

96、efended its 34th most valuable place.Last year,UOL announced its goal to reduce Scope 1 and 2 greenhouse gas emissions for its commercial and hospitality properties by 46%.This target was set against a 2019 baseline and is to be accomplished by 2030.UOLs efforts toward sustainability were recognised

97、 through global and national ESG rating benchmarks with an upgrade to“AA”from“A”for its MSCI ESG Rating in 2023.Guocoland(brand value up 5%to USD377 million)attained a BSI score increase of 3.4 points to 73.5 of 100,while maintaining its brand strength rating at AA.It fell three places to 35th in ou

98、r rankings.Last year,the brand launched its Green Finance Framework to facilitate its decarbonisation efforts and contributions towards the Singapore Green Plan 2030.The framework allows access to fundraising for sustainable development,under which Guocoland secured a SGD974 million green facility f

99、or refinancing Guoco Tower as well as approximately SGD499 million of green loans for the development of its Lentor Gardens site.City Developments(brand value down 8%to USD340 million)similarly retained its brand strength rating at AA-,with a BSI score increase of 0.9 points to 67.1 of 100.The brand

100、 placed 37th most valuable this year,having fell seven spots.Earlier this year in February saw it achieving double As in the 2023 CDP A List,recognising its leading role in water security initiatives as well as efforts to mitigate climate change,giving City Developments the distinction of becoming t

101、he only Singaporean company to do so.It is also the only brand in Southeast Asia and Hong Kong to stay on the list for six years in a row.Brand Finance Singapore 100 22Sector AnalysisCommercial Services Revenue from professional services in Singapore is expected to reach USD179 million this year.The

102、 nations geographical location and presence of multinational corporations and diverse business communities,make Singapore an attractive global business hub.With Singapores transformation into a global hub,the call for international education syllabuses has also risen,caused by an increasing number o

103、f expatriates and demand for global curricula from local parents.The commercial services sector accounts for approximately 1%of the total value of all listed brands in our rankings,with the combined value of all six commercial services brands listed posting a 70%increase to USD711 million.The top 5

104、most valuable Singaporean commercial services brands are SATS,iFAST,Neo Group,MindChamps and Raffles Education.SATS(brand value up 86%to USD543 million)moved up seven places to become the 30th most valuable Singaporean brand.It saw a BSI score increase of 8.7 points to 75.0 of 100,as well as a brand

105、 strength rating improvement to AA+from AA-last year.The rise in brand value was attributed to improved brand strength impacted by the consolidation of Worldwide Flight Services after it was acquired by SATS early-April this year.In the same month,a partnership was announced between SATS and Air Can

106、ada(brand value up 9%to USD2.8 billion)to facilitate the latters return to Changi Airport after 30 years.With this collaboration,Air Canada was able to utilise passenger and cargo connections from SATS to reach key airports throughout Southeast Asia.iFAST(brand value up 41%to USD87 million)fell two

107、spots to place as the nations 65th most valuable brand.It obtained a brand strength rating of AA-,an improvement compared to A-in 2023.Similarly,its BSI score went up by 12.7 points to 64.6 of 100.This was in part thanks to improved perceptions of its reputation among stakeholders.Last November,the

108、brand launched its global hub in Malaysia.The new hub will make use of advanced technology,such as AI,to support iFASTs operations,including its fintech capabilities,operation efficiency and workflow.Brand Finance Singapore 100 23Sector AnalysisNeo Group(brand value up 24%to USD26 million)saw its BS

109、I score rise 8.3 to 59.5 points of 100,along with a brand strength rating of A compared to A-last year.The brand also advanced a spot to 82nd position.A leading events caterer in Singapore,the brand completed work on its new headquarters last year.In line with its strategy towards greater autonomy a

110、nd efficiency of its operations,Neo Groups new headquarters comes equipped with a modernised and fully automated central kitchen.It also boasts machinery that carries out crucial functions such as production of the brands most beloved dishes.MindChamps(brand value up 1%to USD22 million)achieved an A

111、+in its brand strength rating,improving from A in 2023.Its BSI score also went up 6.9 points to 63.5 of 100.It fell three places to become Singapores 85th most valuable brand.Bolstering its commitment to the community,the brand held a scholarship ceremony in January this year for residents of Singap

112、ores Marine Parade group representation constituency(GRC)to commemorate the official launch of MindSpace a network of after-school centres for primary school students.The scholarship is aligned with MindChamps goal to sponsor education for those who may not be able to afford it.Raffles Education(bra

113、nd value up 37%to USD20 million)secured 89th place in our rankings,dropping two places from last year.Nonetheless,the brand was able to attain an increased BSI score of 11.9 points to 64.2 of 100.It also clinched a brand strength rating of A+,compared to A-last year.In 2023,the brand,through its Raf

114、fles College of Higher Education educational institution,garnered several achievements related to sustainability.Three students from the college were among the finalists of Lendleases Trash to Couture Competition,which centers on converting waste material to fashion,while during the Nee Soon Green C

115、arnival organised by Singapores Nee Soon GRC,the institutions fashion and jewellery designers held a green fashion showcase,presenting showcase pieces made from recycled textile waste to Nee Soon GRC Members of Parliament.The institution also received three awards,two of which were related to sustai

116、nability as part of the Singapore Good Design(SG Mark)Award ceremony held in August.2024 Rank2023 RankBrandSector2024 Brand ValueBrand Value Change2023 Brand Value2024 Brand Rating2023 Brand Rating110DBSBanking$11,031+5.0%$10,509AAAAAA2-3Marina Bay SandsLeisure&Tourism$6,164-AAA+-321UOBBanking$5,644

117、+1.9%$5,540AAA-AAA-431OCBC BankBanking$4,971-8.1%$5,412AA+AAA-541SingtelTelecoms$4,010-2.1%$4,097AAAAAA651Great EasternInsurance$3,545+4.2%$3,403AAA-AAA-761Singapore AirlinesAirlines$2,237+0.6%$2,223AAA-AA+8-3LazadaRetail$2,051-AA+-971OlamFood$1,575+6.1%$1,484AA-A+10100TigerBeers$1,478+30.5%$1,133AA

118、AA1181Income InsuranceInsurance12-3SP GroupUtilities13121SembcorpEngineering14140ST EngineeringEngineering15111FairPriceRetail16172WilmarFood17161ComfortDelGroLogistics18151StarhubTelecoms1991SPCOil&Gas20131BigoMedia21191KeppelEngineering22220Changi AirportAirports23211Fraser and NeaveSoft Drinks242

119、40Jardine Cycle&CarriageAutomobiles25201PSALogistics26362GrabMobility27251MapletreeReal Estate28231CapitaLand InvestmentReal Estate29271JTCEngineering30372SATSCommercial Services31261SGXExchanges32291M1Telecoms33392Millennium HotelsHotels34340UOLReal Estate35321GuocolandReal Estate36-3SinglifeInsura

120、nce37301City DevelopmentsReal Estate38311Sheng SiongRetail39281Frasers PropertyReal Estate40412KopitiamRetail41351Hong Leong AsiaEngineering42331ParkwayHealthcare Facilities43381Singapore PostLogistics44431ScootAirlines45441VentureSemiconductors46472SBSLogistics47492Copthorne HotelsHotels48502The Ho

121、ur GlassRetail49451SMRTLogistics50401Pan PacificHotelsBrand Finance Singapore 100 24Brand Value Ranking(USDm)Top 100 most valuable Singaporean brands 1-502024 Rank2023 RankBrandSector2024 Brand ValueBrand Value Change2023 Brand Value2024 Brand Rating2023 Brand Rating51552CortinaRetail52481Raffles Me

122、dicalHealthcare Facilities53592OUEReal Estate54511SIA EngineeringEngineering55-3SeatriumEngineering56461UOB Kay HianBanking57561Singapore LandReal Estate58-3DRs SecretCosmetics&Personal Care59531Park RoyalHotels60541Food EmpireFood61571Ho Bee LandReal Estate62521YEOSSoft Drinks63581Banyan TreeHotels

123、64601Hi-PElectronics65631iFASTCommercial Services66611Wing TaiReal Estate67621SUNTECReal Estate68792ValueMaxRetail69722MaxicashRetail70651CSEInternet&Software71641GP IndustriesElectronics72681ChallengerRetail73691DelfiFood74701Thomson MedicalHealthcare Facilities75661Hong Leong FinanceBanking76671AE

124、MElectronics77751Hotel Grand CentralHotels78731Wee HurReal Estate79711Pan-UnitedEngineering80771JumboRestaurants81741Tiger BalmPharma82832Neo GroupCommercial Services83801Q&MHealthcare Facilities84781SoilBuildReal Estate85821MindChampsCommercial Services86811Far East OrchardReal Estate87841LHN Limit

125、edReal Estate88761AmaraHotels89871Raffles EducationCommercial Services90-GoldheartRetail91881World Class LandRetail92932MetroRetail93911Choo ChiangElectronics94962ASLCommercial Services95861Telechoice InternationalSemiconductors96901Stamford TyresTyres97941KingsmenEngineering98921Haw ParEngineering9

126、9851Park Royal CollectionHotels100981SOG HealthHealthcare FacilitiesBrand Finance Singapore 100 25Top 100 most valuable Singaporean brands 51-100Brand Value Ranking(USDm)MethodologyDefinitionsEnterprise ValueBranded Business ValueBrand ContributionMetaFacebookFacebookFacebook+Enterprise ValueThe val

127、ue of the entire enterprise,made up of multiple branded businesses.Where a company has a purely mono-branded architecture,the enterprise value is the same as branded business value.Brand Value+Branded Business Value The value of a single branded business operating under the subject brand.A brand sho

128、uld be viewed in the context of the business in which it operates.Brand Finance always conducts a branded business valuation as part of any brand valuation.We evaluate the full brand value chain in order to understand the links between marketing investment,brand-tracking data,and stakeholder behavio

129、ur.+Brand ContributionThe overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand.The brand values contained in our league tables are those of the potentially transferable brand assets only,making brand contribution a wider concept.An

130、 assessment of overall brand contribution to a business provides additional insights to help optimise performance.+Brand ValueThe value of the trade mark and associated marketing IP within the branded business.Brand Finance helped to craft the internationally recognised standard on Brand Valuation I

131、SO 10668.It defines brand as a marketing-related intangible asset including,but not limited to,names,terms,signs,symbols,logos,and designs,intended to identify goods,services or entities,creating distinctive images and associations in the minds of stakeholders,thereby generating economic benefits.Br

132、and ValueBrand Finance Singapore 100 27What is Brand Value?Brand value refers to the present value of earnings specifically related to brand reputation.Organisations own and control these earnings by owning trademark rights.All brand valuation methodologies are essentially trying to identify this,al

133、though the approach and assumptions differ.As a result published brand values can be different.These differences are similar to the way equity analysts provide business valuations that are different to one another.The only way you find out the“real”value is by looking at what people really pay.As a

134、result,Brand Finance always incorporates a review of what users of brands actually pay for the use of brands in the form of brand royalty agreements,which are found in more or less every sector in the world.This is sometimes known as the“Royalty Relief”methodology and is by far the most widely used

135、approach for brand valuations since it is grounded in reality.It is the basis for a public rankings but we always augment it with a real understanding of peoples perceptions and their effects on demand from our database of market research on over 6000 brands in over 41 markets.Disclaimer Brand Finan

136、ce has produced this study with an independent and unbiased analysis.The values derived and opinions produced in this study are based only on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear.Brand Finance accepts no responsibilit

137、y and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate.The opinions and financial analysis expressed in the report are not to be construed as providing investment or business advice.Brand Finance does not intend the report to

138、be relied upon for any reason and excludes all liability to any body,government or organisation.Brand is defined as a bundle of trademarks and associated IP which can be used to take advantage of the perceptions of all stakeholders to provide a variety of economic benefits to the entity.Brand Valuat

139、ion MethodologyBrand Finance Singapore 100 281.Brand ImpactWe review what brands already pay in royalty agreements.This is augmented by an analysis of how brands impact profitability in the sector versus generic brands.This results in a range of possible royalties that could be charged in the sector

140、 for brands(for example a range of 0%to 2%of revenue).We adjust the rate higher or lower for brands by analysing Brand Strength.We analyse brand strength by looking at three core pillars:“Inputs”which are activities supporting the future strength of the brand;“Equity”which are real current perceptio

141、ns sourced from our market research and other data partners;“Output”which are brand-related performance measures such as market share.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each brand is assigned a correspond

142、ing Brand Rating up to AAA+in a format similar to a credit rating.2.Brand StrengthThe BSI score is applied to the royalty range to arrive at a royalty rate.For example,if the royalty range in a sector is 0-5%and a brand has a BSI score of 80 out of 100,then an appropriate royalty rate for the use of

143、 this brand in the given sector will be 4%.3.Brand Impact x Brand StrengthWe determine brand-specific revenues as a proportion of parent company revenues attributable to the brand in question and forecast those revenues by analysing historic revenues,equity analyst forecasts,and economic growth rate

144、s.We then apply the royalty rate to the forecast revenues to derive brand revenues and apply the relevant valuation assumptions to arrive at a discounted,post-tax present value which equals the brand value.4.Forecast Brand Value Calculation credibilityBrand Valuation MethodologyBrand Finance Singapo

145、re 100 29Brand Strength MethodologyBrand Strength IndexMarketing InvestmentBusiness PerformanceStakeholder EquityWidely recognised factors deployed by marketers to create brand loyalty and market share.Perceptions of the brand among different stakeholder groups,with customers being the most importan

146、t.Quantitative market and financial measures representing the success of the brand in achieving price and volume premium.Analytical rigour and transparency are at the heart of our approach to brand measurement at Brand Finance.Therefore,in order to adequately understand the strength of brands we con

147、duct a structured,quantitative review of data that reflect the Brand Value Chain of brand-building activities,leading to brand awareness,perceptions and onwards to brand-influenced customer behaviour.To manage the Brand Value Chain process effectively we create and use the“Brand Strength Index”(BSI)

148、.This index is essentially a modified Balanced Scorecard split between the three core pillars of the Brand Value Chain:Brand Inputs,Brand Equity and Brand Performance.Brand Finance Singapore 100 301.Attribute Selection and WeightingAlthough we follow a general structure incorporating the three pilla

149、rs(Brand Inputs,Brand Equity and Brand Performance),the attributes included are different depending on the sector.A brand strength index for a luxury apparel brand will differ in structure from an index designed for a telecommunications brand.An index for luxury apparel brand may emphasize the exclu

150、siveness,word of mouth recommendation,and price premium,whereas an index for a telecommunications company may emphasis customer service and ARPU as important metrics.These attributes are weighted according to their perceived importance in driving the following pillar:Brand Investment measures in dri

151、ving Brand Equity;Brand Equity measures for Brand-Related Business Performance measures;and finally the relevance of Brand-Related Business Performance measures for driving business value.In order to convert raw data in to scores out of 10 that are comparable between attributes within the scorecard,

152、we then have to benchmark each attribute.We do this by reviewing the distribution of the underlying data and creating a floor and ceiling based on that distribution.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each

153、 brand is assigned a corresponding rating up to AAA+in a format similar to a credit rating.Analysing the three brand strength measures helps inform managers of a brands potential for future success.3.Benchmarking and Final ScoringBrands ability to influence purchase depends primarily on peoples perc

154、eptions.Therefore,the majority of the Brand Strength Index is derived from Brand Finances proprietary Global Brand Equity Research Monitor research,a quantitative study of a sample of over 100,000 people from the general public on their perceptions of over 4,000 brands in over 25 sectors and 37 coun

155、tries.However,at Brand Finance we also believe that there are other measures that can be used to fill gaps that survey research may not capture.These include total investment levels for example in marketing,R&D,innovation expenditure,that can a better guide to future performance than surveys.They al

156、so include online measures such as ratings by review sites and social media engagement that can give a more granular understanding of marketing effectiveness.Finally they also include real behaviour for example net additions,customer churn and market share,to overcome the tendency for surveys to inc

157、orporate intended behaviour rather than real.Over a period of 3 to 4 months each year,we collect all this data across all the brands in our study in order to accurately measure their comparative strength.2.Data CollectionBrand Strength MethodologyBrand Finance Singapore 100 31Our ServicesBrand Resea

158、rch What gets measured.+Brand Audits+Primary Research+Syndicated Studies+Brand Scorecards+Research Analytics+Soft PowerAre we building our brands strength effectively?How do I track and develop my brand equity?How strong are my competitors brands?Are there any holes in my existing brand tracker?What

159、 do different stakeholders think of my brand?Brand Evaluations are essential for understanding the strength of your brand against your competitors.Brand Strength is a key indicator of future brand value growth whether identifying the drivers of value or avoiding the areas of weakness,measuring your

160、brand is the only way to manage it effectively.Questions we can help answer:Brand Finance Singapore 100 33Consulting ServicesMake branding decisions using hard dataBrand Finance Singapore 100 33In-depth external benchmarking comparisons against direct competitors across key KPIs through the Brand St

161、rength Index framework.BenchmarkingDiagnose Brand Strengths&Weaknesses What is my brand known,and not known for?How do I leverage or optimize my brand position to grow brand value?Brand Associations&Market PositioningStatistical correlation analysis to understand what is important in driving Brand C

162、onsideration,Reputation,Brand Strength and Value.Drivers AnalysisBrand Insights Make your brands business case.Consulting ServicesBrand Finance Singapore 100 34Brand Finance Singapore 100 35+Brand Impact Analysis+Tax&Transfer Pricing+Litigation Support+M&A Due Diligence+Fair Value Exercises+Investor

163、 ReportingBrand Valuations are used for a variety of purposes,including tax,finance,and marketing.Being the interpreter between the language of marketers and finance teams they provide structure for both to work together to maximise returns.How much is my brand worth?How much should I invest in mark

164、eting?How much damage does brand misuse cause?Am I tax compliant with the latest transfer pricing?How do I unlock value in a brand acquisition?Questions we can help answer:Brand Valuation Make your brands business case.Consulting ServicesOnce you understand the value of your brand,you can use it as

165、tool to understand the business impacts of strategic branding decisions in terms of real financial returns.Which brand positioning do customers value most?What are our best brand extension opportunities in other categories and markets?Am I licensing my brand effectively?Have I fully optimised my bra

166、nd portfolio?Am I carrying dead weight?Should I transfer my brand immediately?Is a masterbrand strategy the right choice for my business?+Brand Positioning +Brand Architecture+Franchising&Licensing +Brand Transition+Marketing Mix Modelling +Sponsorship StrategyQuestions we can help answer:Brand Stra

167、tegy Make branding decisions with your eyes wide open.Consulting ServicesBrand Finance Singapore 100 36Sustainability and ESG have never been more important considerations for marketers,finance professionals,and the brands they serve.Our sustainability services bring clarity,allowing you to make the

168、 right decisions to add value,protect yourself from risk,and do the right thing.+Perceptions Evaluation and Tracking +Sustainability ROI Analysis +Competitor Insights and Positioning Recommendations +Materiality Exercises +Stakeholder Engagement and Workshops +Sustainability Reporting and Disclosure

169、 Support How important is sustainability in driving the choices of customers,employees,and investors?Which sustainability issues are most relevant to my brand?How sustainable is my brand perceived to be versus competitors?What is the potential value of enhancing perceptions?Could value be at risk?If

170、 so,how much?How do I secure investment or budget allocation?How do I improve performance and perceptions?Questions we can help answer:Brand Sustainability Understand perceptions and align them with performance.Consulting ServicesBrand Finance Singapore 100 37Sponsorships are often amongst the most

171、extensive,influential,and expensive brand building activities a company can undertake.We use the same techniques applied in brand valuation,such as research,financial modelling,and strategic analysis.This approach helps marketing and finance managers to understand the effectiveness of sponsorships a

172、nd maximise ROI.Advertising equivalency,and traditional research interpretation of sponsorships,fails to adequately address key questions around brand building and value creation.Brand Finance takes a broader view to understand sponsorships in the context of achieving brand and business objectives.C

173、an I develop a sponsorship strategy to match commercial objectives?Is the partnership a good fit?What is the short-term impact on business performance?What impacts there on long-term brand building metrics?What is my financial return from the sponsorship investment?Should the partnership be renewed,

174、and if so,at what price?How does my sports partnership compare to the market?Questions we can help answer:Sponsorship ServicesMaximise value from your sponsorships.Consulting Services+Sponsorship Strategy+Partnership Opportunity Analysis+Return on Investment Analysis+Partnership Tracking+Sports Inve

175、stment Due Diligence+Sponsorship Prospectus building+Activation Measurement&StrategyBrand Finance Singapore 100 38Brand Dialogue Limited is a member of the Brand Finance Plc Group.With strategic planning and creative thinking,we develop communications plans to create dialogue with stakeholders that

176、drives brand value.Our approach is integrated,employing tailored solutions for our clients across PR and marketing activations,to deliver strategic campaigns,helping us to establish and sustain strong client relationships.We also have a specific focus on geographic branding,including supporting nati

177、on brands and brands with a geographical indication(GI).Brand Dialogue Services+Brand&Communications Strategy+Campaign Planning+Market Research&Insights+Media AnalysisResearch,Strategy&Measurement+Promotional Events+Conference Management+Native Advertising+Retail MarketingMarking&Events+Crisis Commu

178、nications+Brand Positioning&Reputation+Corporate Social Responsibility+Geographic BrandingStrategic Communications+Press Releases+Bespoke Publications,Blogs&Newsletters+Marketing Collateral Design+Social Media ContentContent Creation+Media Relations+Press Trips&Events+Strategic Partnerships&Influenc

179、er Outreach+Social Media ManagementPublic Relations&CommunicationsFor further information on our services and valuation experience,please contact your local representative:Market ContactEmailAfricaJeremy Sampsonj.sampsonbrandfi Asia Pacifi cAlex Haigha.haighbrandfi AustraliaMark Crowem.crowebrandfi

180、BrazilEduardo Chavese.chavesbrandfi CanadaLaurence Newelll.newellbrandfi China Scott Chens.chenbrandfi East Africa Walter Seremw.serembrandfi FranceBertrand Chovetb.chovetbrandfi Germany/Austria/SwitzerlandUlf-Brun Drechselu.drechselbrandfi IndiaAjimon Francisa.francisbrandfi IrelandAnnie Browna.bro

181、wnbrandfi ItalyMassimo Pizzom.pizzobrandfi MexicoLaurence Newelll.newellbrandfi Middle EastAndrew Campbella.campbellbrandfi NigeriaTunde Odumerut.odumerubrandfi PhilippinesGary de Ocampog.deocampobrandfi PolandKonrad Jagodzinskik.jagodzinskibrandfi PortugalPilar Alonso Ulloap.alonsobrandfi RomaniaMi

182、hai Bogdanm.bogdanbrandfi South AmericaPilar Alonso Ulloap.alonsobrandfi SpainPilar Alonso Ulloap.alonsobrandfi Sri LankaAliakber Alihussaina.hussainbrandfi SwedenAnna Brolina.brolinbrandfi TurkeyMuhterem Ilgnerm.ilgunerbrandfi United KingdomAnnie Browna.brownbrandfi USALaurence Newelll.newellbrandfi VietnamQuyen Luongq.luongbrandfi Brand Finance Network Brand Finance Singapore 100 40Contact usT:+44(0)20 7389 9400E:W: