Singtel named Singapore’s strongest brand by Brand Finance

Singtel has been named Singapore’s strongest brand, according to Brand Finance’s 2022 ranking1 of the country’s top 100 brands. It 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. This score also placed Singtel among the world’s top 10 strongest telecom brands.

“Singtel achieved an extremely strong score in Singapore and internationally. Brands like Nike for example, score 84,” said Mr Alex Haigh, Brand Finance’s Managing Director for Asia Pacific. “This is testament to Singtel’s push towards digitalisation, most notably its nationwide 5G roll-out which was widely promoted. According to our research, this increased the familiarity of its brand, improved brand recall and people’s willingness to pay a price premium for its services.”

Lian Pek, Singtel’s Vice President of Strategic Communications and Brand, said: “This is a welcome recognition of the very tangible progress the Group has made to reset and strengthen its business. We upped the branding stakes when we raced to deploy nationwide 5G coverage in time for Singapore’s National Day, even though we 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. But more than just a 5G branding exercise, we’re very excited about being able to empower enterprises in their digital transformations and delivering new experiences for consumers, sooner rather than later. 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. Notwithstanding COVID- 19, Singtel has established 5G leadership across both Singapore and Australia, developed new growth engines through NCS, digital banking and data centre businesses, and unlocked more than S$2 billion through active capital recycling to grow its new digital businesses.

In addition, Brand Finance 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$3.9 billion.

Brand Finance, a leading brand valuation consultancy, publishes the Singapore Top 100 Brands report annually. It determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance. Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors.

Click here to see more on the Brand Finance Singapore 100.