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GULF wins Thailand's Top Corporate Brands of 2021


Gulf Energy Development Plc (GULF) has won the award for best brand value in the energy and utilities category at the 12th ASEAN and Thailand’s Top Corporate Brands 2021.

The event, which was recently organised by Chulalongkorn Business School (Master’s in Branding and Marketing Programme) in cooperation with the Stock Exchange of Thailand (SET) and Manager Media Group Plc, awards organisations with strong corporate reputations and excellent business performance in line with the principles of good governance.

“It was an honour to be recognised as having the ‘highest corporate brand value’ in energy and utilities among Thai brands in 2021,” said GULF’s chief corporate affairs officer, Tanon Tantisunthorn. “Receiving such an award reaffirms our first-class brand image and also that our operation has demonstrated social and environmental responsibilities while achieving sustainable business growth. This will also reinforce the confidence of investors and stakeholders in the company.”

GULF wins Thailand's Top Corporate Brands of 2021

ASEAN and Thailand’s Top Corporate Brands uses the Corporate Brand Success (CBS) valuation to evaluate candidates each year, explained Prof Guntalee Ruenrom of the Department of Marketing, Faculty of Commerce and Accountancy at Chulalongkorn University.

“The CBS valuation is based on figures from the financial statements of SET-listed companies from the past three years,” she said. “Our valuation mechanics systematically integrates marketing, financial, and accounting concepts, making it possible to calculate a corporation’s brand value into objective financial numbers.”

GULF wins Thailand's Top Corporate Brands of 2021

To be eligible for the CBS valuation required for this award, companies must achieve a score of at least 4 on the Institute of Directors (IOD)’s Good Governance Index, have been publicly listed for at least three years and have a corporate brand value of at least 5 billion baht.

 

Published : January 21, 2022

By : THE NATION