Gulf Energy Development plc (GULF) has been presented with a ‘Thailand’s Top Corporate Brands’ award for the highest corporate brand value in the Energy and Utilities category at the 12th ASEAN and Thailand’s Top Corporate Brands 2021, organized by Master in Branding and Marketing, Chulalongkorn Business School in cooperation with the Stock Exchange of Thailand (SET) and Manager Media Group plc. The achievement reflects a strong corporate image and excellent business performance in line with the principles of good governance. Prof. Bundhit Eua-Arporn, President, Chulalongkorn University, presided over the ceremony.

Mr. Tanon Tantisunthorn, Chief Corporate Affairs Officer, GULF, stated “It was an honor to be recognized as ‘highest corporate brand value’ in the Energy and Utilities category from ASEAN and Thailand's Top Corporate Brands 2021. Receiving such an award totally reaffirms our first-class brand image in doing business while complying with social and environment responsibility to achieve sustainable business growth. This will also reinforce investor and stakeholder confidence in the company.”

Prof. Dr. Guntalee Ruenrom, and Asst. Prof. Dr. Ake Pattaratanakun, Department of Marketing, Faculty of Commerce and Accountancy, Chulalongkorn University disclosed the mechanic of Corporate Brand Success (CBS) Valuation: “The CBS Valuation is based on figures from the financial statements of SET-listed companies from the past three years. The CBS Valuation formula systematically integrates marketing, financial, and accounting concepts, making it possible to calculate a corporation’s brand value into objective financial numbers.”

To be selected for the highest corporate brand value, companies must achieve a score of at least 4 on the IoD Good Governance Index, be publicly listed for at least three years and have a corporate brand value of 5 billion baht or more to be eligible for the CBS Valuation formula and receive the award.