Singapore – National telecom Singtel has been named Singapore’s strongest brand by Brand Finance’s 2022 ranking of the country’s top 100 brands. Brand Finance is a brand valuation consultancy that publishes the said report annually.
According to the report, the telco topped the brand strength index with a score of 87.1 out of 100 for its new strategy to reposition for digital growth as well as its sustained efforts in delivering 5G innovation. The score also placed Singtel among the world’s top 10 strongest telecom brands.
Lian Pek, Singtel’s vice president for strategic communications and brand, commented they had upped the branding stakes when they raced to deploy nationwide 5G coverage in time for Singapore’s National Day, even though they were three years ahead of time.
“With 25,000 spectators at the National Day Parade getting their first taste of 5G when streaming video live at high speeds, our 5G readiness hit home,” said Pek.
She adds, “We’re glad people are sitting up and noticing our brand promise to create a more sustainable and inclusive digital future for all our stakeholders.”
Announced last May, Singtel’s strategic reset centres around capturing untapped digital growth by leveraging its 5G leadership to reinvigorate its core consumer and enterprise businesses, developing new growth engines in ICT and digital services, and unlocking asset value.
In addition to being the top-ranked, Brand Finance also reported that Singtel retained its AAA brand rating, making it one out of only three companies in Singapore to receive the triple-A rating this year. Singtel also grew its brand value, which is a measure of the brand’s financial strength, by 22% to US$3.9b.
The ‘Singapore Top 100 Brands’ report by Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.