For the first time, Fortune’s Southeast Asia 500 ranking for 2024 lists the region’s largest companies by revenue in the fiscal year 2023.
With one of the world’s fastest-growing regions now having its own Fortune 500 list, this progress reflects Southeast Asia’s growing importance in the global economy.
The inaugural rankings covered companies from seven Southeast Asian countries: Thailand, Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia.
Indonesia leads with 110 companies, followed by Thailand with 107. Malaysia, with 89 companies on the list, edged out Singapore, which had 84. The list includes 70 companies from Vietnam, 38 from the Philippines, and two from Cambodia.
Trafigura, a commodities trader based in Singapore, is the top revenue earner on the list, with sales of $244 billion, Thailand’s PTT is ranked second, and Indonesia’s Pertamina is third.
Singapore has the most companies in the top 10, with Trafigura followed by Wilmar at number 4, Olam being 5th, Flex at 8th, and DBS at 10th. Thailand’s CP All is 7th, and San Miguel from the Philippines is 9th.
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