The 82 Singapore-based companies on the list posted a combined US$657.5 billion in revenue last year, accounting for nearly 35% of the total, according to the magazine’s Southeast Asia 500 ranking released on Tuesday.
Now in its third year, the annual list ranks publicly listed, privately held and state-owned companies headquartered in Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam based on revenue for their latest available fiscal years ending on or before Dec. 31, 2025.
Singapore’s total was well ahead of second-placed Thailand, whose companies collectively generated $352 billion. Indonesia ranked third with $321.8 billion, followed by Malaysia at $214.9 billion and Vietnam at $177.9 billion.
The Philippines placed fourth with $146.1 billion and Cambodia had two firms generating $1.7 billion in revenue.
Singapore’s top-ranked company, commodity giant Trafigura Group, retained its position as the biggest firm in Southeast Asia.
Three of the region’s top five are based in Singapore, including agribusiness giants Wilmar International (fourth, $70.4 billion) and Olam Group (fifth, $51.5 billion).
The four most profitable companies in the region are also headquartered in the city-state, namely its “Big Three” banks—DBS Group, OCBC, and UOB—and telecom giant Singtel.
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Passers-by hold their mobile phones as people take a selfie photo using a smartphone, with Singapore’s central business district skyline, in Singapore, May 10, 2019. Photo by Reuters |
Overall, the top 500 firms’ combined revenue rose 3.4% to $1.88 trillion in 2025, marking a faster pace of growth than a year earlier. Total profits reached $150 billion, or an 8% net margin for the region.
Vietnam was highlighted as a major growth engine. The combined revenue of Vietnam-based companies on the list jumped 10.5% year-on-year, around three times the regional average and the fastest pace in the region, aside from Cambodia.
The country accounted for roughly a quarter of this year’s total revenue growth across the entire ranking despite making up less than 10% of the overall revenue base.
By representation, Thailand and Indonesia led the list with 105 and 104 companies, respectively, followed by Malaysia with 93. Among 34 new entrants to the list, Thailand contributed the most with nine, ahead of Malaysia with eight.
Nick Gordon, Asia editor at Fortune, said in a press release for the ranking that Southeast Asia weathered tariffs and trade protectionism last year to remain one of the world’s most dynamic regions.
“Southeast Asian countries are vital nodes in global supply chains; foreign investment from both Asia and the West is pouring in; and the region’s young, mobile-savvy consumers are driving domestic spending,” he added.
Sourcee.vnexpress.net
