Singaporean brands perform steady and strong with strong intangible growth.
The top 10 Singapore brands continue to dominate with 54% brand value contribution.
Brand Finance Plc releases the sixth annual “Top 100 Singapore Brands” league table on 22nd May 2013 showing strong growth from the country’s top brands. The Top 10 Singapore Brands have been valued at 21.08 bn US$ in 2013, storming ahead of the remaining 90 brands featured in the leagues that have a total combined value of 40.24 bn US$. This is S$ 50 bn more than the 2012 brand
After holding their positions for 5 consecutive years, the top 3 have finally seen a change of rankings. DBS takes over the #1 position from Singapore Airlines as the most valuable Singapore brand in 2013, pushing Singapore Airlines and Wilmar to number 2 and 3 respectively.
While there were small movements of rankings amongst the top 20 ranked brands, the fact that every one of the top 20 brands has moved up or down the ranking shows the stiff competition at the top.
Except for 6 brands, all other brands changed their annual rankings ranging from the highest gain of 21 places for the brand ASPIAL to the highest drop of 25 places for Far East Orchard.
As compared to 3 brands in 2012, in 2013, F&N was the only new brand that managed to enter into the top 10, straight to the 5th position.
DBS has increased its brand value by US$ 1.16 billion in 2013 taking them straight to the number one spot with a brand value lead of US$ 359 million over Singapore Airlines.
Despite moving to the second place for the first time since the publication of the rankings, Singapore Airlines continues to fly high taking the second place with a significant lead of US$ 376 million over the third ranked Wilmar.
The significant gain of brand value by DBS has increased the gap between the top 2 brands which was near negligible in 2012.
Singapore Airlines further runs the risk of losing their number 2 position to Wilmar next year unless some significant efforts are undertaken to grow the value of the brand.
The overall top riser brand by brand value growth was also DBS which saw an increase of US$ 1.16 billion in their brand value over 2012. It will be interesting to watch if they are able to maintain their position or slide back next year.
The top three risers by absolute brand value growth amongst the top 10 brands were DBS (US$ 1.16 bn), F&N (US$ 1 bn) and UOB Bank (US$ 0.47 bn). 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.
Samir Dixit, Managing
Director of Brand Finance Asia Pacific commented that “DBS is a great example of a brand focused business where the brand plays a significant role in helping build the business while the
organisation seeks to diversify its revenues away from its home market through acquisitions and strong regional communication focus across markets in South East Asia, South Asia and Greater China.”
Amongst the top 10, there are several brands within arm’s reach of one another. We will likely see some close battles going forward between OCBC vs. Keppel and Great Eastern vs. Genting.
While the top 10 brands added an impressive US$ 21.80 bn to the combined brand value, the top 3 brands combined value was in line with the overall 14% growth of Brand value in 2013.
Samir Dixit further added “Similar to other Asian markets, there is also a sharp contrast in the contribution of the top 10 compared to the next 10 brands (54.19% vs. 21.97%). This clearly indicates the large growth potential available to a majority of the top 50 Singaporean brands. It also indicates the dominance of the top 10 and the benefits of robust brand management at the top.”
Average Brand Value increase applicable across the top 100.
The overall increase of the top 100 brands value was 14%. This was applicable across all brands as the value growth across the rankings did not change much over 2012.
Value growth of top 10 in 2013 compared to 2012 remained the same at 54%. Brands ranked 11-20 had a value contribution of 21.97%, 21-30 had a contribution of 9.6%, 31-40 contributed 4.43%, 41-50 had a 3.22% share and the average contribution for the brands ranked 51-100 was at 6.93%).
This clearly indicates that brands have done well across the rankings as against just at the top.
As a result of the overall growth, some of the brands that did well at the lower end of the rankings are Popular, Challenger, Stamford Tyres and TT International to name a few.
The bottom end of the brand value growth reached a high range of 112-10 mn US$. (Except the last four which were between 9 and 6 mn).
| Ranking Range|
Total Value Contribution
%age Value Contribution 2013
| Top 10|| 21,806|| |
Coming out of the crisis, all segments grew well. Banks dominated the top 10 risers followed by Telcos. Six of the top 10 risers are also amongst the top 10 brands. All the top risers are within the top 19 ranked brands (as compared with the top 22 ranked bands in 2012)
The top 10 risers contributed US$ 4.5 billion or over 90% of the total brand value increase of the top 100 brands (US$ 4.99 billion) in 2013.
Increase in Brand Value (US$ millions)
Fraser And Neave
Engineering & Construction
Jardine Cycle &
Most of the brand value loss contained amongst top 3 reducers
There were only 18 brands amongst the top 100 with a brand value loss over 2012. The reducers had a value erosion of only US$ 1.06 bn compared with US$ 1.78 in 2012.
The brand value erosion was present across industry and segments such as transportation, agriculture, airlines, lodging, DFS, gas, computers and real estate services. This indicates reduction in brand value was more due to brand management practices as appose to market conditions effecting a particular sector.
Reduction in Brand Value (US$ millions)
Far East Orchard
Diversified Financial Services
Samir Dixit, Managing Director of Brand Finance Asia Pacific says.
“I am delighted to see that there are several challenger brands at the top. The uniform growth from across industries and brands ranked all the way to 100 indicates a well-rounded growth from an economic development perspective”.
“The Singapore brands continue to do well amongst the ASEAN region. Despite growing competition from Malaysia, Thailand and other ASEAN countries, the Singapore top 100 brands remain strongly competitive in the region and display their importance of being the growth engine for the Enterprise Value of Corporate Singapore.”
“Such large growth in Intangible value is a good sign for Singapore’s intent of being the IP hub of Asia”. He added.
He concludes by saying, “So long as the brands at the top are continuously challenged, we will always have something new, something challenging and exciting to look forward to.”
Alfredo Chandra, Valuation Director of Brand Asia Pacific says.
“The key challenge is not to grow the brand value but to grow it disproportionately higher to the enterprise value growth. While there is a lot of interest amongst the top ranked brands to know their brand value, sadly, there is no visible and concentrated effort to grow the value disproportionate to the enterprise value growth. That is the key”.
David Haigh, CEO of Brand Finance Plc says
“As Singapore thrusts ahead to become a more sophisticated knowledge economy, companies that invest in intangible assets and right talent to manage them well will stand to gain.”
About Brand Finance
Brand Finance is an independent brand strategy and valuation consultancy focused on advising strongly branded organisations on how to maximise value through effective management of their brands and intangible assets. Since it was founded in 1996, Brand Finance has performed thousands of branded business, brand and intangible asset valuations worth trillions of dollars.
Its clients include international brand owners, tax authorities, IP lawyers and investment banks. Its work is frequently peer-reviewed by the big four audit practices and its reports have
been accepted by various regulatory bodies, including the UK Takeover Panel.
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Notes for Editors:
Brand Finance first issued its Global Report into the relative equity of the 250 top global brands in 2007. In 2008, the study was extended to analyse the top 500 brands worldwide. The
Singapore top 100 Brands report is published annually and incorporates data from all listed companies. Each brand is accorded a brand rating: a benchmarking study of the strength, risk and future potential of a brand relative to its competitor set as well as a brand value: a summary measure of the financial strength of the brand.
The results of the Brand Finance® top 100 Singapore Brands are available at www.brandirectory.com . Further analysis can be requested from Brand Finance Asia pacific by e-mailing to email@example.com
For a one-on-one discussion with our Managing Director – Asia Pacific, please write to firstname.lastname@example.org or call at +65 90698651
Bernard Lee, Senior Manager, Brand Finance Asia Pacific
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The Top 10 Most Valuable Singapore Brands 2013