Gulf Energy Development has won the "Thailand's Top Corporate Brands" award for achieving the highest corporate brand value, amounting to 340 billion baht, in the energy and utilities sector.
The recognition took place at the 14th Asean and Thailand Top Corporate Brands 2023. The awards were organised by Chulalongkorn Business School's Master's in Branding and Marketing Program, in collaboration with the Stock Exchange of Thailand (SET) and Manager Online.
Gulf said the award affirms its positioning as an industry leader, propelled by robust performance and adherence to good governance principles.
The brand valuation methodology used by the judges was the corporate brand success valuation, known as CBS valuation. This method relies on data from the financial statements of SET-listed companies from the past three years.
The CBS valuation formula integrates marketing, financial and accounting principles to objectively quantify a company's brand value in financial terms. Companies must have a brand value of at least 5 billion baht to be eligible for valuation and an award.