Fortune Top 50 Southeast Asia Companies by Revenue & Profit 2023: Largest Company by Revenue is Trafigura Group with $244 Billion, Largest Company by Profit is DBS with $7.4 billion, Top 5 Companies by Revenue are Trafigura (Singapore), PTT (Thailand), Pertamina (Indonesia), Wilmar (Singapore), Olam (Singapore).  Top 5 Companies by Profit are DBS (Singapore), Trafigura Group (Singapore), OCBC (Singapore), Pertamina (Indonesia), UOB (Singapore), Top 50 Southeast Asia Companies Have Combined $1 Trillion Revenue with $71 Billion Profit, Top 50 Southeast Asia Companies Have Combined $90 Billion Profit with $877 Billion Revenue, 3 Companies of Top 50 Larges5 Revenue with Net Losses: 1) Indorama Ventures (Thailand) with $310 Million Losses, Charoen Pokphand Foods (Thailand) with $149 Million & IRPC (Thailand) with $84 Million Losses

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Fortune Top 50 Southeast Asia Companies by Revenue & Profit 2023: Largest Company by Revenue is Trafigura Group with $244 Billion, Largest Company by Profit is DBS with $7.4 billion, Top 5 Companies by Revenue are Trafigura (Singapore), PTT (Thailand), Pertamina (Indonesia), Wilmar (Singapore), Olam (Singapore).  Top 5 Companies by Profit are DBS (Singapore), Trafigura Group (Singapore), OCBC (Singapore), Pertamina (Indonesia), UOB (Singapore), Top 50 Southeast Asia Companies Have Combined $1 Trillion Revenue with $71 Billion Profit, Top 50 Southeast Asia Companies Have Combined $90 Billion Profit with $877 Billion Revenue, 3 Companies of Top 50 Larges5 Revenue with Net Losses: 1) Indorama Ventures (Thailand) with $310 Million Losses, Charoen Pokphand Foods (Thailand) with $149 Million & IRPC (Thailand) with $84 Million Losses

26th July 2024 | Hong Kong

Fortune 500 has released the Top 500 Southeast Asia Companies 2023, providing key insights on revenue & profit of the top 500 companies in Southeast Asia.  In 2023, the largest company by revenue is Trafigura Group (Singapore, Energy) with $244 billion.  Largest Company by Profit – DBS (Singapore, Financials) – $7.4 billion.  Top 5 Companies by Revenue – Trafigura Group (Singapore, Energy), PTT (Thailand, Energy), Pertamina (Indonesia, Energy), Wilmar (Singapore, Food & Resources), Olam (Singapore, Wholesaler).  Top 5 Companies by Profit – DBS (Singapore, Financials), Trafigura Group (Singapore, Energy), OCBC (Singapore, Financials), Pertamina (Indonesia, Energy), UOB (Singapore, Financials).  Top 50 Southeast Asia Companies Revenue – $1 trillion revenue ($71 billion profit).  Top 50 Southeast Asia Companies Profit – $90 billion profit ($877 billion revenue).  Top Companies in Country by Revenue: Singapore – Trafigura (Energy) with $244 billion, Thailand – PTT (Energy) with $90 billion, Indonesia – Pertamina (Energy) with $75 billion, Philippines – San Miguel (Industrials) with $26 billion, Malaysia – Maybank (Financials) with $14 billion, Vietnam – Petrolimex (Energy) with $11 billion, Cambodia – ACLEDA Bank (Financials) with $826 million.  Top Companies in Country by Profit: Singapore – DBS (Financials) with $7.4 billion, Indonesia – Pertamina (Indonesia, Energy) with $4.4 billion, Thailand – PTT (Thailand, Energy) with $3.2 billion, Malaysia – Maybank (Financials) – $2 billion, Philippines – SM Investments (Industrials) – $1.3 billion, Vietnam – BIDV – (Financials) – $902 million, Cambodia – NagaCorp (Cambodia, Hotels, Restaurants & Leisure) with $177 million.  3 Companies of Top 50 Largest Revenue with Net Losses: 1) Indorama Ventures (Thailand, Chemicals) – $310 Million, Charoen Pokphand Foods (Thailand, Food & Beverages) – $149 Million, IRPC (Thailand, Energy) – $84 Million.  See below for key findings & summary | View report here

“ Fortune Top 50 Southeast Asia Companies by Revenue & Profit 2023: Largest Company by Revenue is Trafigura Group with $244 Billion, Largest Company by Profit is DBS with $7.4 billion, Top 5 Companies by Revenue are Trafigura (Singapore), PTT (Thailand), Pertamina (Indonesia), Wilmar (Singapore), Olam (Singapore).  Top 5 Companies by Profit are DBS (Singapore), Trafigura Group (Singapore), OCBC (Singapore), Pertamina (Indonesia), UOB (Singapore), Top 50 Southeast Asia Companies Have Combined $1 Trillion Revenue with $71 Billion Profit, Top 50 Southeast Asia Companies Have Combined $90 Billion Profit with $877 Billion Revenue, 3 Companies of Top 50 Larges5 Revenue with Net Losses: 1) Indorama Ventures (Thailand) with $310 Million Losses, Charoen Pokphand Foods (Thailand) with $149 Million & IRPC (Thailand) with $84 Million Losses “

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Fortune Top 50 Southeast Asia Companies by Revenue & Profit 2023: Largest Company by Revenue is Trafigura Group with $244 Billion, Largest Company by Profit is DBS with $7.4 billion, Top 5 Companies by Revenue are Trafigura (Singapore), PTT (Thailand), Pertamina (Indonesia), Wilmar (Singapore), Olam (Singapore).  Top 5 Companies by Profit are DBS (Singapore), Trafigura Group (Singapore), OCBC (Singapore), Pertamina (Indonesia), UOB (Singapore), Top 50 Southeast Asia Companies Have Combined $1 Trillion Revenue with $71 Billion Profit, Top 50 Southeast Asia Companies Have Combined $90 Billion Profit with $877 Billion Revenue, 3 Companies of Top 50 Largest Revenue with Net Losses: 1) Indorama Ventures (Thailand) with $310 Million Losses, Charoen Pokphand Foods (Thailand) with $149 Million & IRPC (Thailand) with $84 Million Losses

Fortune 500 has released the Top 500 Southeast Asia Companies, providing key insights on revenue & profit of the top 500 companies in Southeast Asia.  See below for key findings & summary | View report here

1) Fortune Top 50 Southeast Asia Companies

1. Largest Company by Revenue – Trafigura Group (Singapore, Energy) with $244 billion revenue
2. Largest Company by Profit – DBS (Singapore, Financials) with $7.4 billion profit
3. Top 5 Companies by Revenue – Trafigura (Singapore, Energy), PTT (Thailand, Energy), Pertamina (Indonesia, Energy), Wilmar (Singapore, Food & Resources), Olam (Singapore, Wholesaler)
4. Top 5 Companies by Profit – DBS (Singapore, Financials), Trafigura Group (Singapore, Energy), OCBC (Singapore, Financials), Pertamina (Indonesia, Energy), UOB (Singapore, Financials)
5. Top 50 Southeast Asia Companies Revenue – $1 trillion revenue ($71 billion profit)
6. Top 50 Southeast Asia Companies Profit – $90 billion profit ($877 billion revenue) 

2) Top 50 Southeast Asia Companies with Net Losses (3 Companies): 

1. Indorama Ventures (Thailand, Chemicals): -$310 million losses
2. Charoen Pokphand Foods (Thailand, Food & Beverages): -$149 million losses
3. IRPC (Thailand, Energy): -$84 million losses

3) Top Companies in Country by Revenue:

• Singapore – Trafigura Group (Energy) with $244 billion
• Thailand – PTT (Energy) with $90 billion
• Indonesia – Pertamina (Energy) with $75 billion
• Philippines – San Miguel (Industrials) with $26 billion
• Malaysia – Maybank (Financials) with $14 billion
• Vietnam – Petrolimex (Energy) with $11 billion
• Cambodia – ACLEDA Bank (Financials) with $826 million 

4) Top Companies in Country by Profit:

• Singapore – DBS (Financials) with $7.4 billion
• Indonesia – Pertamina (Indonesia, Energy) with $4.4 billion
• Thailand – PTT (Thailand, Energy) with $3.2 billion
• Malaysia – Maybank (Financials) – $2 billion
• Philippines – SM Investments (Industrials) – $1.3 billion
• Vietnam – BIDV – (Financials) – $902 million
• Cambodia – NagaCorp (Cambodia, Hotels, Restaurants & Leisure) –  $177 million 

5) Top 50 Southeast Asia Companies by Revenue (Country, Sector):

1. Trafigura Group (Singapore, Energy) – $244 billion
2. PTT (Thailand, Energy) – $90 billion
3. Pertamina (Indonesia, Energy) – $75 billion
4. Wilmar (Singapore, Food & Resources) – $67 billion
5. Olam (Singapore, Wholesaler) – $35 billion
6. Perusahaan Listrik Negara (Indonesia, Energy) – $32 billion
7. CP All (Thailand, Retailing) – $26 billion
8. Flex (Singapore, Technology) – $26 billion
9. San Miguel (Philippines, Industrials) – $26 billion
10. DBS (Singapore, Financials) – $25 billion
11. UOB (Singapore, Financials) – $19 billion
12. OCBC (Singapore, Financials) – $18 billion
13. Charoen Pokphand Foods (Thailand, Food & Beverages) – $17 billion
14. Indorama Ventures (Thailand, Chemicals) – $15 billion
15. Bank Rakyat Indonesia (Indonesia, Financials) – $14 billion
16. Siam Cement (Thailand, Materials) – $14 billion
17. Maybank (Malaysia, Financials) – $14 billion
18. Singapore Airlines (Singapore, Transportation) – $14 billion
19. CP Axtra (Thailand, Wholesaler) – $14 billion
20. Sea (Singapore, Technology) – $13 billion
21. Tenaga Nasional (Malaysia, Energy) – $11 billion
22. Bank Mandiri (Indonesia, Financials) – $11 billion
23. Petrolimex (Vietnam, Energy) – $11 billion
24. Bangchak (Thailand, Energy) – $11 billion
25. Sime Darby (Malaysia, Industrials) – $10 billion
26. Singtel (Singapore, Telecommunications) – $10 billion
27. SM Investments (Philippines, Industrials) – $10 billion
28. Telkom Indonesia (Indonesia, Telecommunications) – $9.8 billion
29. Golden Agri-Resources (Singapore, Food & Resources) – $9.7 billion
30. IRPC (Thailand, Energy) – $9.1 billion
31. Kasikornbank (Thailand, Financials) – $8.6 billion
32. Petronas Dagangan (Malaysia, Energy) – $8.2 billion
33. Thai Beverage (Thailand, Food & Beverages) – $8 billion
34. Manila Electric (Philippines, Energy) – $7.9 billion
35. Gudang Garam (Indonesia, Tobacco) – $7.8 billion
36. CIMB Group (Malaysia, Financials) – $7.6 billion
37. Agribank (Vietnam, Financials) – $7.5 billion
38. ST Engineering (Singapore, Aerospace & Defense) – $7.5 billion
39. BIDV (Vietnam, Financials) – $7.5 billion
40. Bank Central Asia (Indonesia, Financials) – $7.3 billion
41. Indofood Sukses Makmur (Indonesia, Food & Beverages) – $7.3 billion
42. Central Retail (Thailand, Retailing) – $7.1 billion
43. MIND ID (Indonesia, Materials) – $7 billion
44. Sumber Alfaria Trijaya (Indonesia, Retailing) – $7 billion
45. Vingroup (Vietnam, Business Services) – $6.7 billion
46. Bangkok Bank (Thailand, Financials) – $6.6 billion
47. YTL (Malaysia, Industrials) – $6.5 billion
48. VietinBank (Vietnam, Financials) – $6.5 billion
49. Adaro Energy Indonesia (Indonesia, Energy) – $6.5 billion
50. SCB X (Thailand, Financials) – $6.3 billion

6) Top 50 Southeast Asia Companies by Profit (Country, Sector):

1. DBS (Singapore, Financials) – $7.4 billion
2. Trafigura Group (Singapore , Energy) – $7.3 billion
3. OCBC (Singapore, Financials) – $5.2 billion
4. Pertamina (Indonesia, Energy) – $4.4 billion
5. UOB (Singapore, Financials) – $4.2 billion
6. Bank Rakyat Indonesia (Indonesia, Financials) – $3.9 billion
7. Bank Mandiri (Indonesia, Financials) – $3.6 billion
8. PTT (Thailand, Energy) – $3.2 billion
9. Bank Central Asia (Indonesia, Financials) – $3.1 billion
10. Keppel (Singapore, Industrials) – $3 billion
11. Maybank (Malaysia, Financials) – $2 billion
12. Singapore Airlines (Singapore, Transportation) – $1.9 billion
13. Adaro Energy Indonesia (Indonesia, Energy) – $1.6 billion
14. Singtel (Singapore, Telecommunications) – $1.6 billion
15. Telkom Indonesia (Indonesia, Telecommunications) – $1.6 billion
16. MIND ID (Indonesia, Materials) – $1.5 billion
17. CIMB Group (Malaysia, Financials) – $1.5 billion
18. Wilmar (Singapore, Food & Resources) – $1.5 billion
19. Public Bank (Malaysia, Financials) – $1.4 billion
20. Perusahaan Listrik Negara (Indonesia, Energy ) – $1.4 billion
21. SM Investments (Philippines, Industrials) – $1.3 billion
22. Bank Negara Indonesia (Indonesia, Financials) – $1.3 billion
23. BDO Unibank (Philippines, Financials) – $1.3 billion
24. SCB X (Thailand, Financials) – $1.2 billion
25. Bayan Resources (Indonesia, Materials) – $1.2 billion
26. Kasikornbank (Thailand, Financials) – $1.2 billion
27. Bangkok Bank (Thailand, Financials) – $1.1 billion
28. PSA International (Singapore, Transportation) – $1 billion
29. Krungthai Bank (Thailand, Financials) – $1 billion
30. Flex (Singapore, Technology) – $1 billion
31. BPI (Philippines, Financials) – $929 million
32. BIDV – (Vietnam, Financials ) – $902 million
33. Military Bank (Vietnam, Financials) – $868 million
34. Agribank (Vietnam, Financials) – $862 million
35. Mapletree Investments (Singapore, Financials) – $851 million
36. Advanced Info Service (Thailand, Telecommunications) – $836 million
37. VietinBank (Vietnam, Financials) – $835 million
38. Thai Airways International (Thailand, Transportation) – $807 million
39. Hafnia – (Singapore, Transportation) – $793 million
40. Thai Beverage (Thailand, Food & Beverages) – $784 million
41. BOC Aviation (Singapore, Transportation) – $763 million
42. Metropolitan Bank & Trust (Philippines, Financials) – $759 million
43. Techcombank (Vietnam, Financials) – $755 million
44. Singapore Power (Singapore, Energy) – $751 million
45. Siam Cement (Thailand, Materials) – $745 million
46. Sembcorp Industries (Singapore, Engineering & Construction) – $701 million
47. Ayala – (Philippines, Industrials) – $684 million
48. Manila Electric (Philippines, Energy) – $684 million
49. Asia Commercial Bank (Vietnam, Financials) – $673 million
50. IHH Healthcare (Malaysia, Health Care) – $647 million

The Fortune Southeast Asia 500 debuts right as global business is starting to pay closer attention to the region. Southeast Asian economies are benefiting from supply chain diversification as rapid domestic development builds the next wave of global middle-class consumers. Our new ranking reflects the rise and fall of energy markets, multinational supply chains, and tourism in some of the world’s most dynamic economies.

Methodology – Companies are ranked by total revenues for their latest available respective fiscal years ended on, or before, Dec. 31, 2023, unless otherwise noted. All companies on the list must publish financial data and report part, or all, of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures for that year. Revenue and profit figures for companies reporting in their local currency have been converted to U.S. dollars at the average exchange rate during each company’s fiscal year (ended Dec. 31, 2023, unless otherwise noted).

Revenues – Revenue figures include consolidated subsidiaries and reported revenues from discontinued operations. For banks, revenue is the sum of gross interest income and non-interest income. For insurance companies, revenue includes premium and annuity income, investment income, realized capital gains or losses, and other income, but excludes deposits.

Profits – Profits are shown after taxes, extraordinary credits or charges and the cumulative effects of accounting changes, but before preferred dividends. Profits from non-controlling (minority) interests are not included. For REITs and Trusts, amounts available for distribution to unitholders are shown as profits. Figures in parentheses indicate a loss. Profit declines of more than 100% reflect swings from 2022 profits to 2023 losses.

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