2 nd yearly Fortune list has Singapore’s Trafigura at No. 1, as the energy sector controls; Malaysia’s NationGate claims fastest growing by earnings
Ranks of female CEOs at Southeast Asia 500 business increases to almost 40, up 28% from in 2015
Indonesia has the most business, 109, on the Southeast Asia 500 however Singapore business lead in earnings, earnings, and properties
SINGAPORE, June 16, 2025/ PRNewswire/– Fortune today reveals the 2025 Southeast Asia 500 rankings, the 2nd yearly list of the biggest business in the area, ranked by earnings for the 2024 . Fortune’s concentrate on Southeast Asia comes as the area becomes a durable development engine for the international economy, playing a progressively crucial function in international supply chains, recording production capability moving from China due to increased tariffs and trade stress.
The 7 nations in in 2015’s inaugural Southeast Asia 500 list– Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia– return in 2025, and continue to make their mark on the area’s economy. Indonesia leads with 109 business, while Thailand follows with 100. Malaysia has 92 business on the list, surpassing Singapore’s 81. Vietnam’s existence on the list has actually grown to 76, while the Philippines contributes 40 and Cambodia complete the list with 2.
Singapore– headquartered products trader Trafigura made the No. 1 area on the Fortune Southeast Asia 500 for a 2nd year, producing more than $ 243 billion in earnings in 2024, followed by Thailand’s PTT (No. 2), Indonesia’s Pertamina (No. 3) and Singapore’s food and agribusiness powerhouses– Wilmar ( No. 4) and Olam (No. 5). The leading 5 business produced almost $ 516 billion in earnings, or 28% of all 500 business integrated.
Together, the leading 10 produced $ 660 billion– 36% of the list’s overall earnings– while the leading 20 represented $ 836 billion, almost half the combined earnings of all 500 business. Especially, Singapore– based business produced $ 637 billion in 2024, highlighting the city-state’s function as a local organization center and accounting for simply over a 3rd of the Southeast Asia 500’s overall earnings. Jointly, business on the 2025 list produced $ 1.82 trillion in earnings in 2024, up from $ 1.79 trillion the year before. The minimum earnings limit to be consisted of on the 2025 list was $ 349.4 million.
” Fortune’s interest in the area shows Southeast Asia’s growing significance as an engine of international development,” states Clay Chandler, Managing Editor, Asia “The area has actually ended up being an important production and export center, which is drawing considerable capital circulations. This momentum has actually been even more sustained by Trump-era tariffs, which have actually improved international trade characteristics and driven a shift towards Southeast Asia“
Energy– whether resource extraction, power generation, or electrical transmission– is the dominant sector on the 2025 list, representing nearly a 3rd of its overall earnings. Thai oil refiner and energy business, Bangchak, gets into this year’s leading 20 with a 47% dive in earnings. Monetary companies represent Southeast Asia’s second-largest sector. Substantially, thirteen banks and monetary companies are amongst the leading 20 most rewarding business with Singapore’s DBS leading– both in regards to earnings and revenues– for a 2nd year.
In his intro to the brand-new list in the June/July concern of Fortune Asia publication, editor, Asia, Nick Gordon notes, the Fortune Southeast Asia 500 offers “a picture of an area prepared to make the most of international supply chain shifts and flourishing markets like mining, EVs, and AI– even as U.S. tariff policy threatens to roll back a few of in 2015’s gains.”
Fast-growers in earnings terms consisted of newbies to the list– Malaysian accuracy making business NationGate, Indonesian mining and energy company, Petrindo Jaya Kreasi and Vietnam’s transportation facilities and vehicle services business, Tasco JSC, along with returning business such as the Philippines’ online video gaming company, Digiplus Interactive, and travel and transport business like Singapore air travel catering and logistics company SATS, Changi Airport Group and Airports of Thailand In 2024, the leading 20 fast-growers recorded strong tailwinds from rebounding tourist, resource need (coal, nickel, energy), digital improvement, and commercial development in Southeast Asia
In a favorable indication for female management in the area, Fortune’s experts kept in mind there are 37 female CEOs leading Southeast Asia 500 business, up from 29 reported in 2015. There are likewise 37 ladies holding the position of chairman. This development in variety, together with the 10 CEOs in their 30s, highlights the area’s progressing management landscape. The typical age of the presidents leading the 500 business is 58. In overall, the 2025 Southeast Asia 500 business utilize more than 6.3 million individuals.
The 2025 Fortune Southeast Asia 500 list and stories are readily available globally on Fortune.com/ asia and on newsstands throughout Asia beginning today, June 17 The list and rankings can be seen at https://fortune.com/asia/ranking/southeast-asia-500/2025/
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SOURCE Fortune