TNB soars in Brand Finance’s ranking
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is the fastest-growing brand in Brand Finance’s Global Top 50 utility brands this year, rising 15 spots to 24th.
This represents a 33 per cent jump in the national utility’s brand value to US$1.58 billion (RM7 billion) from US$1.19 billion last year.
Brand Finance, headquartered in London, said more than half of the brands in this year’s list had declined in value.
They included the top three of Engie (France), EDF (France) and Enel (Italy).
Brand Finance described TNB’s “Reimagining TNB” transformation programme as well as its move to secure generation capacity internationally by acquiring a 30 per cent stake in Indiabased GMR Energy Ltd as the right steps that could yield further growth.
Among other Asian utilities in the list are Korea Electric Power Corp of South Korea (fifth place) Tokyo Electric Power of Japan (11th), Chubu Electric Power Co of Japan (18th), Korea Gas Corporation of South Korea (19th), Kansai Electric Power Co of Japan (30th) and Tata Power of 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.