PETALING JAYA: Fortune magazine’s inaugural ranking of Southeast Asia’s top 500 companies features 89 Malaysian firms, based on their latest fiscal year revenues ending on or before December 31, 2023.
In a statement, today, the list spans seven Southeast Asian nations, with Indonesia leading with 110 companies, followed by Thailand (107), Malaysia (89) and Singapore (84).
Vietnam, the Philippines, and Cambodia contribute 70, 38, and two companies respectively.
The banking sector emerges as the second-largest in Southeast Asia, generating collective revenues of RM1.14 trillion (US$242 billion).
Among Malaysian banks, Maybank secured the 17th position in the Top 20 companies by revenue, reporting RM66.7 billion (US$14.15 billion) while in terms of profitability, Maybank, CIMB Group Holdings and Public Bank ranked 11th, 17th and 19th respectively in the Top 20 companies.
Meanwhile, the energy sector saw Thailand’s PTT at second place, Indonesia’s Pertamina at third and Perusahaan Listrik Negara at sixth.
Singapore dominated the top 10 rankings with Trafigura (4th), Wilmar (5th), Olam (8th), Flex (10th) and DBS (10th).
Thailand’s CP All Plc (7th) and the Philippines’ San Miguel (9th) rounded out the top ten.
The combined revenues of the top ten companies totaled RM3.06 trillion (US$650 billion), representing over a third of the total revenues reported by all 500 Southeast Asian companies for fiscal year 2023, which amounted to RM8.48 trillion (US$1.8 trillion).
The list required a minimum revenue threshold of RM2.17 billion (US$460.8 million) for inclusion.
