New Brand Finance data reveals Malaysia remains a dominant player, contributing 19% of the region’s total brand value
KUALA LUMPUR, 15th October 2025 – PETRONAS (brand value down 1% to USD14.4 billion) retained its position as the most valuable and strongest oil & gas brand in the region this year, according to the latest ASEAN 500 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
Outside of the oil and gas sector, PETRONAS ranks as ASEAN’s second most valuable brand out of 500 featured in the rankings. The slight dip in its brand value this year is largely due to a decrease in net profit and revenue, driven by lower average realised oil and petroleum product prices, global market volatility, and the financial impact of divesting its stake in the Engen Group. Despite these challenges, PETRONAS, also the third strongest oil & gas brand globally, has maintained its AAA- brand strength rating and recorded a Brand Strength Index (BSI) score of 83.7/100.
With a remarkable tripling of its brand value in 2025, Malaysia Airlines (brand value up 209% to USD607 million) has emerged as the fastest-growing brand in ASEAN. This extraordinary achievement reflects not only the airline’s domestic resurgence but also its strengthened position within the region’s highly competitive aviation and transport landscape.
Meanwhile, also making it to the region’s top 10 list of most valuable brands is Malaysia’s largest bank, Maybank (brand value up 52% to USD5.2 billion), which leapt five places from 15th last year. Its brand value surge is propelled by the successful execution of its M25+ strategy, with a strong emphasis on customer centricity, digital innovation, and regional expansion. Another significant contributor to this growth was Maybank's leadership in digital banking, which included the launch of the Money Lock feature aimed at enhancing customer security.
Malaysia-based healthcare brand, KPJ Healthcare (brand value up 71% to USD211 million), has recorded the most significant growth among its peers in ASEAN, reflecting the group’s rapid evolution from a domestic private hospital operator to a regional leader in specialist, technology-driven care. The brand climbed 65 positions to be ranked at 231 ranks among the brands in the region this year.
Taking the crown as the fastest-growing insurance brand in ASEAN this year is Takaful Malaysia (brand value up 90% to USD310 million), climbing one rank to sixth among insurance brands in the region. Takaful Malaysia delivered a commendable performance in 2024, recording a 9% increase in profit after zakat and tax and a 22% growth in takaful revenue, driven by solid contributions from its core business portfolios in bancatakaful, treasury, employee benefits, and general takaful.
Alex Haigh, Managing Director of Brand Finance Asia Pacific, commented:
“Malaysia has proven once again that its brands are not only leaders at home but also powerhouses across ASEAN. PETRONAS, Maybank, Malaysia Airlines, KPJ Healthcare, Takaful Malaysia and others are showcasing how strategic innovation and cultural relevance can fuel sustainable growth on the regional stage.”
The Sustainability Perceptions Index 2025 report by Brand Finance quantifies the financial value of sustainability perceptions and highlights the gaps between brand reputation and actual ESG performance. The 2025 Sustainability Perceptions Index finds that among ASEAN brands ranked this year, PETRONAS leads with its Sustainability Perceptions Value (SPV) standing at USD1.3 billion.
The Brand Guardianship Index (BGI), which assesses how effectively CEOs manage and grow their companies’ brands while driving long-term value creation, is also featured in the ASEAN 500 report. Among the top brand guardians from the region this year are Khairussaleh Ramli, CEO of Maybank, and Tengku Muhammad Taufik, CEO of PETRONAS, ranking third and sixth respectively.
The ASEAN 500 rankings for 2025 showcase the remarkable brand value growth across Southeast Asia, underscoring a dynamic period of economic transformation, digital innovation, and regional integration. The total brand value of ASEAN stands at USD306.6 billion, reflecting the scale of this collective growth with top Malaysian brands accounting for USD59.0 billion (19%) in value.
Other highlights from the Brand Finance ASEAN 500 2025 report include:
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
