New Brand Finance data reveals top 500 ASEAN brands are valued at $306.6 billion in 2025
KUALA LUMPUR, 15th October 2025 – ASEAN’s top 500 brands hold a collective value ofUSD306.6 billion in 2025, showcasing the remarkable growth across Southeast Asia, underscoring a dynamic period of economic transformation, digital innovation, and regional integration.
According to the latest ASEAN 500 2025 report by Brand Finance, the world’s leading brand valuation consultancy, the rankings feature leading brands from six countries including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, and one telecoms brand from Cambodia, highlighting the scale and diversity of the region’s evolving marketing landscape.
This year, Singapore’s DBS (brand value up 56% to USD17.2 billion) has overtaken Malaysian energy giant PETRONAS (brand value down 1% to USD14.4 billion) to become ASEAN’s most valuable brand of the year.
Brand Finance’s analysis finds that DBS’ brand value growth is driven by higher net interest income, increased card fees, and gains in wealth management and loan-related income.
Despite a slight drop in brand value, PETRONAS remains ASEAN’s second most valuable brand. The decline 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. Globally, PETRONAS is ranked as the third strongest oil & gas brand, maintaining its AAA- brand strength rating and Brand Strength Index (BSI) score of 83.7/100.
Another ASEAN oil & gas brand, Thailand’s PTT (brand value up 11% to USD9.2 billion), climbed up one spot to become the region’s third most valuable brand of 2025. Over the past five years, PTT’s brand value has steadily grown, driven by operational excellence and strategic investments in refining, petrochemicals, and infrastructure, contributing to both business and the nation’s economic growth.
With a remarkable tripling of its brand value, Malaysia Airlines (brand value up 209% to USD607 million) has emerged as the fastest-growing brand in ASEAN this year. The 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.
This year, Vietnam’s leading hospitality and resort brand,Vinpearl (brand value at USD204 million), climbed up two spot to achieve the significant milestone of becoming the strongest brand in the region. Vinpearl stands out with a BSI score of 97.5/100, and an AAA+ brand strength rating based on Brand Finance’s Vietnamese consumer market research. The research highlights Vinpearl’s strong performance, supported by high price acceptance, strong brand awareness, and a solid reputation in Vietnam.
BCA (brand value up 42% to USD4.4 billion) of Indonesia slipped one spot to become the second strongest brand in the region. With a BSI score of 97.1/100 and an AAA+ brand strength rating, BCA is also the strongest banking brand globally. Brand Finance’s market research in Indonesia highlights the bank’s continued success being driven by its strong public perception, widespread trust, and consistent delivery of high-quality customer experiences.
One of Vietnam’s largest and most established financial institutions, Vietcombank (brand value up 16% to USD2.4 billion), ranks as the third strongest brand in ASEAN in 2025 after going up three ranks. It achieved a BSI score of 95.3/100, and an AAA+ brand strength rating. The financial giant also takes the title of being the fourth strongest banking brand globally. Vietcombank’s performance is attributed to its high visibility and familiarity, reflecting its market leadership and nationwide presence.
Alex Haigh, Managing Director of Brand Finance Asia Pacific, commented:
“ASEAN’s top brands are proving that resilience and innovation go hand-in-hand. While the region’s combined brand value still trails larger Asian markets like China and Japan, the rapid rise of ASEAN brands is starting to push global players and reshape competition. From DBS’ surge in financial services to PETRONAS and PTT’s dominance in energy, and Viettel’s leadership in digital connectivity, the growth of banking and telecom brands in particular underscores ASEAN’s accelerating economic transformation and expanding global influence”
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 reveals that PETRONAS leads the ASEAN region in its Sustainability Perceptions Value (SPV) standing at USD1.3 billion. In terms of the sustainability performance gap, DBS stands out with the highest positive gap value of USD107 million among ASEAN brands ranked.
The top six brand guardians in ASEAN are Wee Ee Cheong (CEO of UOB), Dr Kongkrapan Intarajang (CEO of PTT), Khairussaleh Ramli (CEO of Maybank), Tao Duc Thang (CEO of Viettel), Helen Wong (CEO of OCBC Bank) and Tengku Muhammad Taufik ( CEO of PETRONAS).
Key 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.
