Singapore leads ASEAN in brand value as Grab grows more than fourfold in three years

Singapore has 88 brands in ASEAN’s top 500, with a combined brand value of US$84.1 billion (S$107.5 billion), the highest of any market in the region, according to a new report. They account for about 27% of the total value of the region’s top 500 brands.

Among them, DBS Bank (DBS) retained the top spot with a brand value of US$18.6 billion (about S$23.8 billion). Technology company Grab’s brand value has risen by 441% over the past three years, the largest increase in the region.

The 2026 ASEAN 500 report, released by brand valuation consultancy Brand Finance on Friday (30 October), showed that the combined value of the region’s 500 most valuable brands rose 8% this year to US$315.6 billion. Singapore had 23 brands in the top 100, more than any other ASEAN market.

Grab’s brand value rose 53% this year to US$1.7 billion, lifting its ranking from 69th to 41st. The report said that after establishing a strong foothold in private hire cars and food delivery, Grab expanded into financial services such as payments, lending and digital banking, driving its brand value higher.

Growing regional demand for travel also lifted the brand values of Singapore’s airlines, hotels and integrated resorts.

Marina Bay Sands’ brand value rose 35% to US$8 billion, lifting its ranking from eighth to fourth. Its US$2.1 billion increase was the largest gain in absolute value among the brands on this year’s list.

Singapore Airlines (SIA) retained its position as ASEAN’s most valuable airline brand, with its brand value rising 12% to US$3.1 billion. Changi Airport’s brand value grew 16% to US$889 million, making it the region’s most valuable and strongest airport brand. Scoot’s brand value rose 9% to US$389 million.

Aviation-related services brands also recorded growth. SATS’ brand value rose 15% to US$790 million, lifting its ranking from 101st to 93rd, while SIA Engineering’s brand value grew 31% to US$245 million, taking it up 30 places to 213th.

In the hotel sector, Millennium Hotels and Resorts’ brand value rose 25% to US$526 million, making it ASEAN’s most valuable hotel brand. Seven of the 13 hotel brands on the list were from Singapore, with a combined brand value of about US$1.1 billion, accounting for 45% of the total value of the region’s listed hotel brands.

Commenting on Singapore’s deep industrial base, Brand Finance’s Asia-Pacific managing director Alex Haigh said: “That depth is clearest in travel, where gains stretch from Singapore Airlines and Changi Airport to ground handling, engineering, hotels and integrated resorts, so the whole ecosystem benefits as regional demand grows.”

Beyond tourism, TeleChoice International’s brand value surged 288% this year to US$53 million, making it ASEAN’s fastest-growing brand by value this year, ranked 431st. The group’s businesses span consumer technology, enterprise digitalisation and telecommunications infrastructure.

Local banking and insurance brands also continued to grow. OCBC Bank (OCBC) and United Overseas Bank (UOB) recorded brand value increases of 7% and 10% respectively, both reaching about US$6.8 billion. Great Eastern’s brand value rose 2% to US$4.9 billion.

Brand Finance defines brand value as the net economic benefit a brand owner could obtain by licensing the brand for use by others on the open market.