Chulalongkorn Awards 14th ASEAN and Thailand’s Top Corporate Brands to Companies with Highest Brand Value in 2023

Prof. Emeritus Dr. Guntalee Ruenrom and Asst. Prof. Dr. Ake Pattaratanakun, representing the Master in Branding and Marketing Program, Department of Marketing, Faculty of Commerce and Accountancy, Chulalongkorn University, joined forces with The Stock Exchange of Thailand and Manager Group of Media in organizing “ASEAN and Thailand’s Top Corporate Brands 2023,” an event to award organizations with the highest brand value in Thailand and ASEAN of the year 2023, which marked the 14^th year of propagation of corporate brand valuation research. The event, held on January 23, 2024, at Chulalongkorn University Auditorium, was presided over by Prof. Dr. Wilert Puriwat, Dean of the Faculty of Commerce and Accountancy, who also presented the awards.

CBS Valuation is Thailand’s first tool to assess corporate brands. The research team revealed that “although in 2023, the economic, social, political, and technological environments changed and caused widespread impact, the research team conducted a corporate brand valuation of companies listed on the stock exchanges of Thailand and the region. The corporate brand valuation was conducted using a 3-year average of figures from the financial statements of companies listed on the stock exchange both in Thailand and in ASEAN. The data was calculated into financial figures by CBS Valuation developed from integrating marketing, finance, and accounting concepts.”

In 2023, two companies were inducted into Thailand’s Top Corporate Brand Hall of Fame 2023 for companies with the highest corporate brand for 5 consecutive years, namely VGI PCL., in the media category, and KCE Electronics PCL., in the electronic parts category.

The Thailand’s Top Corporate Brands 2023 awards were given to 14 companies: Carabao Group (Million THB 95,839), TISCO Financial Group (Million THB 29,242), Krungthai Card (Million THB 92,899), TQM Alpha (Million THB 28,288), United Paper (Million THB 5,933), Dynasty Ceramics (Million THB 13,752), Asset World Corp (Million THB 58,571), Gulf Energy Development (Million THB 340,700), Home Product Center (Million THB 140,118), Bumrungrad International Hospital (Million THB 94,379), BEC World (Million THB 13,246), Bangkok Expressway and Metro (Million THB 89,418), HANA Microelectronics (Million THB 13,938), and Jasmine Technology Solution (Million THB 51,733).

As for ASEAN’s Top Corporate Brands 2023, there were 6 corporate recipients from 6 countries: Bank Central Asia Tbk Pt (Million USD 46,586) from Indonesia, Hong Leong Financial Group (Million USD 13,728) from Malaysia, SM Investments Corporation (Million USD 14,344) from the Philippines, DBS Group Holdings (Million USD 20,402) from Singapore, Advanced Info Service Plc. (Million USD 9,830) from Thailand, and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Million USD 10,864)  from Vietnam. In the year 2023, Airports of Thailand PCL was inducted into ASEAN’s Top Corporate Brand Hall of Fame 2023 since AOT received ASEAN’s Top Corporate Brand for 5 consecutive years.

This corporate brand valuation research has garnered much attention from the business sector as it provides executives and investors with the value of corporate brands in financial numbers that executives can use to further develop their corporate brands for long-term sustainable success.

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