Gulf Energy Development Plc has won Thailand's top corporate brand value award in energy and utilities for the fourth consecutive year at the Asean & Thailand's Top Corporate Brands 2024 awards.
The country's largest private power producer by market value achieved the highest corporate brand value, amounting to over 387 billion baht, in the energy and utilities sector.
Yupapin Wangviwat, deputy chief executive and chief financial officer of Gulf, said the award recognises Gulf's dedication to continuous innovation and business development.
The continued success affirms Gulf's strong corporate image, propelled by robust performance and adherence to good governance principles, she said.
"It reflects our strong financial position and stable cash flow, resulting from our commitment to good corporate governance and responsible business operations, both environmentally and socially, to build brand value and deliver sustainable returns for our shareholders," said Ms Yupapin.
Asean & Thailand's Top Corporate Brands 2024 Awards is a joint award programme organised by Chulalongkorn Business School's Master's in Branding and Marketing programme, the Stock Exchange of Thailand (SET) and Manager Online.
The purpose is to honour the organisation with the highest corporate brand value in Thailand and Asean.
The brand valuation methodology employed by the judges was the corporate brand success valuation, known as the CBS valuation. This method relies on data from the financial statements of SET-listed companies over the past three years.
The CBS valuation formula systematically integrates marketing, financial and accounting principles to objectively quantify a company's brand value in financial terms.
Organisations eligible for Thailand's Top Corporate Brand Awards must have a corporate brand value of at least 5 billion baht.