Oman- Omantel maintains position as sultanate's most valuable brand

9/5/2015 12:48:27 PM

(MENAFN- Muscat Daily) Muscat-

Omantel has seen remarkable growth that helped the company maintain its position as Oman's most valuable brand according to a recent study by Brand Finance a leading brand valuation consultancy.

Telco among top 50 in MENA with total value of $479mn

Omantel moved up eight positions to 33rd among the 50 most valuable brands in MENA region a press release said on Tuesday.

As per the annual survey published recently by Gulf Marketing Review the value of the Omantel brand stood at US$479mn with a growth by more than 50 per cent compared to last year when the brand value was estimated at US$319mn. The growth reflects the improvement in the Omantel brand and its ability to be among the top growing brands in the region. Omantel also received a 'very strong' (AA-) rating in terms of brand strength.

This achievement sheds light on the status of Omantel as the leading telecom service provider in the sultanate and the biggest Muscat Securities Market (MSM) listed company. It also comes in recognition of the high quality telecom services provided by Omantel to its individual and corporate customers as well as its wide footprint in the country.

Commenting on the achievement Talal al Mamari CEO of Omantel said 'We are pleased with this achievement which proves the company's leadership not only in telecom but in the business sector in general.'

'This achievement not only reiterates Omantel's leadership as a brand but gives an indicator of customer satisfaction and loyalty' he added.

'Being the leading brand in Oman puts further responsibility on us to continue improving our services to ensure that our customers are enjoying better experience' he added.

As per Brand Finance the calculation of the brand value is done by using the royalty relief methodology which determines the value a company would be willing to pay to license its brand as if it did not own it. This approach involves estimating the future revenue attributable to a brand and calculating a royalty rate that would be charged for the use of the brand. The monetary value of the brand is calculated in terms of: Brand strength index; royalty rate; and future brand revenues. This method is considered as the most reliable as it is consistent with the tax and judiciary uses as the calculation is carried out by an independent agency. The assessment process is also consistent with ISO standards.

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