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DBS leads 10 Singapore names in Top 30 Most Valuable Southeast Asian Brands report

DBS, with a brand value of US$11.7 billion, sat at number two overall as Indonesia's Bank Central Asia (BCA) topped the list with a US$23.5 billion valuation.

A woman looking at her phone amid the crowd in front of a DBS branch.
DBS sits at second place in the inaugural Kantar BrandZ Top 30 Most Valuable Southeast Asian Brands report. (PHOTO: REUTERS/Feline Lim) (Feline Lim / reuters)

SINGAPORE – DBS came up tops among 10 Singapore brands in the inaugural Kantar BrandZ Top 30 Most Valuable Southeast Asian Brands report, released on Wednesday (12 July).

DBS, with a brand value of US$11.7 billion, sat at number two overall as Indonesia's Bank Central Asia (BCA) topped the list with a US$23.5 billion valuation. Indonesia's BNI (US$8.6 billion) and Singapore's UOB (US$7.2 billion) completed the top four.

The top 30, which covers leading companies from Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines, have a combined total brand value of US$119.6 billion, according to the report.

Kantar BrandZ Top 10 Most Valuable Southeast Asian Brands 2023

Rank 2023

Brand

Valuation Category

Brand Value 2023 (USD mil)

Country of Origin

1

BCA

Financial services

23,447

Indonesia

2

DBS

Financial services

11,755

Singapore

3

BRI

Financial services

8,644

Indonesia

4

UOB

Financial services

7,180

Singapore

5

AIS

Telecom providers

6,801

Thailand

6

Mandiri

Financial services

6,596

Indonesia

7

Telkomsel

Telecom providers

4,661

Indonesia

8

Shopee

Retail

4,593

Singapore

9

Marina Bay Sands

Travel services

4,433

Singapore

10

True

Telecom providers

3,134

Thailand

 

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Singapore accounts for the greatest number of brands in the Top 30, which span financial services, telecommunications, travel, and alcoholic drinks. However, Indonesian companies contribute the most brand value, with eight brands – ranging from noodles to finance – accounting for 43 per cent of the value in the top 30, compared to Singapore's 35 per cent.

Thailand and Malaysia account for 10 per cent each, with the Philippines and Vietnam, each represented by a single brand, a much smaller proportion of the total.

Financial services and telecom providers contribute two-thirds of all the brands in the ranking, and 79 per cent of its value. Next is retail, with eight per cent of the total value, and travel services with six per cent.

Kantar surveyed people in over six markets

The inaugural Top 30 Most Valuable Southeast Asian Brands ranking, Kantar BrandZ said, draws on opinions of over 98,048 respondents, about 1,744 unique brands across 78 categories and six markets.

In contrast to the strongest brands in most other markets surveyed, Kantar found out that the leading Southeast Asian brands generate almost all their business "at home", with only 20 per cent generated in international markets. This, Kantar said, highlights an opportunity for them to expand into new territories to build value.

"Our region's leading brands have good reason to celebrate. They contribute significant value to the companies behind them, by connecting with consumers and adapting to their changing needs. In such a fast-changing, diverse, and rapidly growing region, brands need to be agile – and the Top 30 are masters of remaining relevant. There is huge potential for significant further growth if they can extend their local strengths into other Asian and even global markets," Katie McClintock, managing director, Southeast Asia, Kantar, said in a statement.

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