Fortune's focus on Southeast Asia reflects the region's growing importance as a sustainable growth engine for the global economy , especially as it emerges as an alternative manufacturing destination to China amid escalating trade tensions and tariffs.
Seven countries that were in the Southeast Asia 500 last year (Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia) are still present in 2025, continuing to make their mark on the regional economy. Indonesia leads with 109 companies, followed by Thailand with 100. Malaysia increased to 92 companies, surpassing Singapore with 81. The number of Vietnamese companies in the ranking also increased from 70 to 76. The Philippines has 40 representatives and Cambodia has 2.
Singapore-based commodity trader Trafigura retained its top spot for the second year in a row with revenues of over $243 billion in 2024, followed by PTT (Thailand), Pertamina (Indonesia), and Singapore’s two leading food and agriculture conglomerates, Wilmar and Olam. These five companies alone contributed nearly $516 billion, or 28% of the total revenue of the entire list.
The top 10 companies generate a total of $660 billion (36% of the total revenue of the ranking), while the top 20 companies contribute $836 billion - nearly half of the total revenue of the 500 companies. Notably, Singapore-based companies will generate a total revenue of $637 billion in 2024, accounting for more than a third of the total revenue of the entire ranking. In total, the companies on this year's ranking will record revenue of $1.82 trillion in 2024, up slightly from $1.79 trillion last year. Companies need to have a minimum revenue of $349.4 million to be included in the list.
PetroVietnam, Vietnam’s largest state-owned enterprise, entered the rankings for the first time at number 11, and was the only Vietnamese representative in the top 20 in terms of revenue. The group also topped the list of Vietnamese enterprises. With Vietcombank in the top 20 most profitable enterprises and ranking 19th in terms of market capitalization, Vietnam’s presence in the rankings continued to be consolidated with a total of 76 enterprises.
“Fortune’s special attention to the region reflects Southeast Asia’s growing importance as an engine of global growth,” said Clay Chandler, Fortune’s Asia editor-in-chief.
Another bright spot is the diversity of leadership: a total of 37 female CEOs are leading the companies on the list, up from 29 last year. At the same time, 37 women are chairmen. In addition, there are 10 CEOs in their 30s, indicating a clearly changing leadership landscape in the region. The average age of CEOs is 58. In total, the companies on this year’s list employ more than 6.3 million people.
Source: https://doanhnghiepvn.vn/kinh-te/kinh-doanh/fortune-500-doanh-nghiep-dong-nam-a-2025-viet-nam-co-dai-dien-duy-nhat-lot-top-20-doanh-thu/20250617082206035
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