Petronas has retained its position as Malaysia’s most valuable brand for the 12th consecutive year, according to brand valuation consultants Brand Finance.

The brand value of Petronas rose by 13% to US$13.6 billion (RM60.6 billion), over three times higher than the second most valuable Malaysian brand, Genting. Genting’s brand value rose by 44% to US$4.5 billion (RM20 billion).

Overall, brand values of top Malaysian brands have seen growth as the country bounces back from the Covid-19 pandemic, with Malaysia’s 100 most valuable brands worth 21% more in 2022, up from US$44.4 billion (RM197 billion) to US$53.7 billion (RM239 billion).

Making up the top 10 list are Genting (2nd), Maybank (3rd), CIMB Bank (4th), Tenaga Nasional (5th), Sime Darby (6th), Public Bank (7th), Maxis (8th), Air Asia (9th) and Telekom Malaysia (10th).

“Top-performing brands in the oil and gas, banking and telecommunications sector, including Petronas, Maybank, and Affin Bank, continue to innovate using digital transformation and are making up for losses incurred during the COVID-19 pandemic,” said Brand Finance’s Asia Pacific MD Alex Haigh.

According to the company, Petronas’ sustainability agenda and increased demand for its core products contributed to its brand value growth. Aside from strengthening its growth portfolio, the national oil and gas firm also aims to achieve its goal of net zero carbon emissions by 2050.

Recently, Petronas introduced a new entity, Gentari, to accelerate the adoption and commercialisation of clean energy. The company is also targeting to be a significant green mobility solutions provider, by providing around 25,000 EV charging points by 2030.