The national carrier again placed first in the Brand Finance Top 100 rankings but it might be its last year on top.
Singapore Airlines clung on to first place for the fourth straight year by the slimmest of margins against second-place Wilmar International, said Brand Finance in a release. The airlines risks losing its top spot in 2013 unless it shapes up its highest-plummeting brand value.
"Singapore Airlines continues to fly high taking the top place for the fourth consecutive year, despite significant brand value decreases of nearly 15% (0.53 bn US$). This decrease has narrowed the gap at the top by a mere 0.12 bn US$ between Singapore Airlines and Wilmar International. Unless some significant steps are taken by Singapore Airlines to arrest the decline of their Enterprise value and make efforts to boost the brand value at the same time, we will likely see a new # 1 brand in 2013 that will displace Singapore Airlines after 4 years," said Brand Finance.
"DBS Bank remained at the number three position increasing its brand value to 2.30 bn US$, a brand value growth of 13% over 2011. It continues to build its brand presence in the three key markets of South East Asia, South Asia and Greater China as it seeks to diversify its revenues away from its home market, through acquisitions and strong
regional communication focus," it said.
"SingTel also kept their number five position with a 28% increase in brand value at 1.73 bn US$. This increase has not only allowed them to maintain their lead over #6 ranked UOB; it has also got them within arm distance to the #4 position of Genting," it added.
Genting's performance was particularly impressive, soaring from outside the Top 100 into its current fourth place, as well as Tiger Beer's which broke into the Top 10 for the first time ever. Overall, the two new brands in the top 10 have a combined brand value of 2.92 bn US$. Brand Finance said this indicates increasingly "stiff competition" and "vulnerability at the top."
In total, the Top 10 Singapore Brands have been valued at 19.29 bn US$ in 2012, storming ahead of the remaining 90 brands featured in the leagues that have a total combined value of 36.28 bn US$, Brand Finance data showed.
"The overall top riser brand by brand value growth was Olam International, a global commodity player, which saw the unprecedented increase of 247% in their brand value over 2011.The increase enabled them to climb 18 places placing them firmly amongst the top 20. It will be interesting to watch if they are able to maintain their position or slide back next year," said Brand Finance.
"The top three risers by brand value growth amongst the top 10 brands were SingTel (29%), UOB (28%) and OCBC Bank (32%). The banking brands growth is in line with the general trend around the world of financial brands rebounding after the 2008 crisis. However these three brands have achieved a more marked recovery than their western peers because of their proximity to the major and rapidly developing economies," it said.
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