PLDT named as Philippines' most valuable brand at US$2.6 billion
By MB Business
Published Jul 20, 2023 03:53 am
PLDT Inc. (PLDT) is the most valuable brand in the Philippines based on an independent 2023 study by Brand Finance, a London-based business valuation and strategy consulting firm. With a 2% annual increase in brand value to US$2.6 billion, the performance of the country’s largest integrated telco contributed to the brand capturing a higher market share of the fiber industry, which led to a 45% improvement in year-on-year revenue. Besting other brands in telecommunications, banking, and food service, PLDT was cited by Brand Finance for its consistent focus on innovation as a driver to improve customer service and propel the nation towards becoming a financial and technology hub. PLDT’s sustainability initiatives were also recognized. The Brand Finance report indicated that the brand posted the highest Sustainability Perceptions Value among all brands listed in its rankings at US$222 million. Brand Finance cited the use of carbon fiber technology for cell towers and the deployment of solar roof top panels leading to a reduction of over 137 tonnes of greenhouse gas emissions.
Alfredo S. Panlilio, President and CEO of PLDT
“PLDT greatly appreciates the latest and prestigious recognition from Brand Finance for being conferred as the Most Valuable Filipino Brand this year. This inspires us more to continue providing the vital connectivity that powers our digital economy, enabling us to help transform the country into a globally competitive and digitally-empowered nation,” said Alfredo S. Panlilio, President and CEO of PLDT and its wireless subsidiary, Smart Communications, Inc. (Smart).
“This recognition clearly shows that our efforts to proactively create brand loyalty, awareness, associations, and maintaining international standard of our products and services among our stakeholders are paying off,” Panlilio added.
Brand Finance also lauded PLDT’s deployment of carbon fiber cell site towers, an environmental initiative that seeks to reduce the amount of carbon dioxide produced by up to 70%, as compared to using traditional steel towers. Carbon fiber towers also use less land space, reducing the need for land repurposing.
“We sincerely thank Brand Finance for this distinction – a testament to our ardent investments in the fiber industry and good corporate governance,” Panlilio said. In support of the government’s digitalization goals, the citation also reinforces PLDT and Smart’s commitment to bridge the digital divide – a mandate of the Private Sector Advisory Council (PSAC) Digital Infrastructure group, where Panlilio sits as a founding member.
PLDT and Smart’s efforts recognized by Brand Finance are among the broad range of initiatives undertaken by the Group in its continuing drive to elevate customer experience and become the region’s leading ESG telco. These objectives are two of the five pillars of PLDT and Smart’s multi-year transformation launched in 2022, in response to the rapidly shifting market conditions in the Philippines.
“We sincerely thank Brand Finance for this distinction – a testament to our ardent investments in the fiber industry and good corporate governance,” Panlilio said. In support of the government’s digitalization goals, the citation also reinforces PLDT and Smart’s commitment to bridge the digital divide – a mandate of the Private Sector Advisory Council (PSAC) Digital Infrastructure group, where Panlilio sits as a founding member.
PLDT and Smart’s efforts recognized by Brand Finance are among the broad range of initiatives undertaken by the Group in its continuing drive to elevate customer experience and become the region’s leading ESG telco. These objectives are two of the five pillars of PLDT and Smart’s multi-year transformation launched in 2022, in response to the rapidly shifting market conditions in the Philippines.