PETALING JAYA: Fortune journal’s inaugural rating of Southeast Asia’s top 500 companies options 89 Malaysian firms, based mostly on their newest fiscal yr revenues ending on or earlier than December 31, 2023.
In an announcement, as we speak, the list spans seven Southeast Asian nations, with Indonesia main with 110 companies, adopted by Thailand (107), Malaysia (89) and Singapore (84).
Vietnam, the Philippines, and Cambodia contribute 70, 38, and two companies respectively.
The banking sector emerges because the second-largest in Southeast Asia, producing collective revenues of RM1.14 trillion (US$242 billion).
Among Malaysian banks, Maybank secured the seventeenth place in the Top 20 companies by income, reporting RM66.7 billion (US$14.15 billion) whereas in phrases of profitability, Maybank, CIMB Group Holdings and Public Bank ranked eleventh, seventeenth and nineteenth respectively in the Top 20 companies.
Meanwhile, the power sector noticed 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 (fifth), Olam (eighth), Flex (tenth) and DBS (tenth).
Thailand’s CP All Plc (seventh) and the Philippines’ San Miguel (ninth) rounded out the top ten.
The mixed revenues of the top ten companies totaled RM3.06 trillion (US$650 billion), representing over a 3rd of the whole revenues reported by all 500 Southeast Asian companies for fiscal yr 2023, which amounted to RM8.48 trillion (US$1.8 trillion).
The list required a minimal income threshold of RM2.17 billion (US$460.8 million) for inclusion.
