关于最有价值和最强大的石油和天然气品牌的年度报告

Singapore’s Performance on Intangible AssetsHow Hard do Singapore Companies Work at their Brands? 08.08.2008 ABOUT BRAND FINANCE ....................................................................................................................3FOREWORD ..........................................................................................................................................4GLOSSARY OF TERMS........................................................................................................................51.EXECUTIVE SUMMARY72.KEY FINDINGS113.SINGAPORE‟S TOP10124.SINGAPORE‟S TOP 50 BRANDS19 ABOUT BRAND FINANCE Brand Finance is an international leader in quantifying and leveraging the value of intangible assets.We advise organisations across a wide range of sectors on how to maximise shareholder valuethrough effective management of their intangible assets. Headquartered in London, Brand Finance Our services complement and support each other, resulting in an in-depth understanding ofintangible assets from financial, consumer and commercial perspectives: intellectualproperty and branddue diligenceintellectual property structuringlicensingjoint venture, mergers, acquisitions, investment and divestment decisions Brand Finance has worked with many of the world‟s leading brand ownersand branded enterprises.We also advise private equity companies, investment banks, intellectual property lawyers, and tax FOREWORD Intangible assets should be an important issue to be considered by theboardroom. The Brand Finance‟s „Global Intangible Tracker‟ covers more than10,000 companies quoted in 32 countries over a six year period. Brand Financeplc is the world‟s leading independent brand and intangible asset valuation firm,and for over a decade Brand finance has been dedicated to the measurement of Brand Finance‟s League Tables take into consideration a sector approach inwhich brands are compared against their peers and provide an aggregate findingof the value generated by these businesses and their brand strategies. We usequantitative market data, detailed financial information and expert judgment to Our methods and reports are highly actionable for accounting, tax litigation andcommercial purposes. They also produce diagnostics and analytics that can beused to manage your strategy better. This is how we add value to our client‟s Singapore has done very well economically as a nation and I am very impressedby the efforts of EDB and IPOS in increasing the IP standards in the industry aswell as making this economy attractive for IP owners. This report demonstratesthat Singapore companies can do more to develop and leverage their intangibleassets to grow shareholder value as fast as other leading world economies. I am pleased to say we have taken this 43rd National Day to recognize theentrepreneurial culture in Singapore. We have shortlisted three Rising StarBrands to accord them the recognition in their investment in brands andintangible assets. It is also my belief that more IP will be created not only in I am sure Singapore companies will continually thrive for a compelling growthstory overseas with your brand and intangible assets. David HaighChief ExecutiveBrand Finance plc GLOSSARY OF TERMS Brand Portfolio Value Enterprise Value The combined market value of the equity and debt of abusiness less cash and cash equivalents. The value of trademarks and trade mark licenses,together with associated goodwill. ßrandßeta® Fair Market Value (FMV) The price at which a business or assets would changehands between a willing buyer and a willing seller,neither of whom are under compulsion to buy or selland both having reasonable knowledge of all relevant Brand Finance‟s proprietary method for adjusting aweighted average cost of capital to arrive at a specificdiscount ratefor each brand (based on its Brand Branded Business The whole business trading under particular brands,the associated goodwill and all the other tangible andintangible elements at work within the business. Holding Company A company controlling management and operations inanother company or group of other companies. Brand RatingA summary opinion, similar to a credit rating, on a Intangible AssetAnidentifiable non-monetary asset without physicalsubstance. brand based on its strength as measured by BrandFinance‟s „Brand Strength Index‟. Net Present Value (NPV)The present value of an asset‟s net cash flows (minusany initial investment). Brand Value The net present value of the estimated future cashflows attributable to the brand (seeMethodologysection for more detail). Tangible ValueThe fair market value of the monetary and physicalassets of a business. Discounted Cash Flow (DCF) A method of evaluating an asset value by estimatingfuture cash flows and taking into consideration the timevalue of money and risk attributed to the future cashflows. Weighted Average Cost of Capital (WACC) An average representing the expe