FORTUNE UNVEILS 2025 SOUTHEAST ASIA 500

2^nd annual Fortune list has Singapore's Trafigura at No. 1, as the energy sector dominates; Malaysia's NationGate claims fastest growing by revenue

Ranks of female CEOs at Southeast Asia 500 companies increases to nearly 40, up 28% from last year

Indonesia has the most companies, 109, on the Southeast Asia 500 but Singapore companies lead in revenue, profits, and assets

SINGAPORE, June 17, 2025 /PRNewswire/ -- Fortune today unveils the 2025 Southeast Asia 500 rankings, the second annual list of the largest companies in the region, ranked by revenue for the 2024 fiscal year. Fortune's focus on Southeast Asia comes as the region emerges as a resilient growth engine for the global economy, playing an increasingly important role in global supply chains, capturing manufacturing capacity shifting from China due to heightened tariffs and trade tensions.

The seven countries in last year's inaugural Southeast Asia 500 list—Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia—return in 2025, and continue to make their mark on the region's economy. Indonesia leads with 109 companies, while Thailand follows with 100. Malaysia has 92 companies on the list, surpassing Singapore's 81. Vietnam's presence on the list has grown to 76, while the Philippines contributes 40 and Cambodia rounds out the list with two.

Singapore-headquartered commodities trader Trafigura earned the No. 1 spot on the Fortune Southeast Asia 500 for a second year, generating more than $243 billion in revenue in 2024, followed by Thailand's PTT (No. 2), Indonesia's Pertamina (No. 3) and Singapore's food and agribusiness powerhouses—Wilmar (No. 4) and Olam (No. 5). The top five companies generated nearly $516 billion in revenue, or 28% of all 500 companies combined.

Together, the top 10 generated $660 billion—36% of the list's total revenue—while the top 20 accounted for $836 billion, nearly half the combined revenue of all 500 companies. Notably, Singapore-based companies generated $637 billion in 2024, underscoring the city-state's role as a regional business hub and accounting for just over a third of the Southeast Asia 500's total revenue. Collectively, companies on the 2025 list generated $1.82 trillion in revenue in 2024, up from $1.79 trillion the year before. The minimum revenue threshold to be included on the 2025 list was $349.4 million.

"Fortune's interest in the region reflects Southeast Asia's growing importance as an engine of global growth," says Clay Chandler, Executive Editor, Asia. "The region has become a crucial manufacturing and export hub, which is drawing significant capital flows. This momentum has been further fueled by Trump-era tariffs, which have reshaped global trade dynamics and driven a shift towards Southeast Asia."

Energy – whether resource extraction, power generation, or electrical transmission—is the dominant sector on the 2025 list, accounting for almost a third of its total revenue. Thai oil refiner and energy company, Bangchak, breaks into this year's top 20 with a 47% jump in revenue. Financial firms represent Southeast Asia's second-largest sector. Significantly, thirteen banks and financial firms are among the top 20 most profitable companies with Singapore's DBS leading—both in terms of revenue and earnings—for a second year.

In his introduction to the new list in the June/July issue of Fortune Asia magazine, editor, Asia, Nick Gordon notes, the Fortune Southeast Asia 500 provides "a snapshot of a region ready to take advantage of global supply chain shifts and booming industries like mining, EVs, and AI—even as U.S. tariff policy threatens to roll back some of last year's gains."

Fast-growers in revenue terms included newcomers to the list—Malaysian precision manufacturing company NationGate, Indonesian mining and energy firm, Petrindo Jaya Kreasi and Vietnam's transport infrastructure and automotive services company, Tasco JSC, as well as returning companies such as the Philippines' online gaming firm, Digiplus Interactive, and travel and transportation companies like Singapore aviation catering and logistics firm SATS, Changi Airport Group and Airports of Thailand. In 2024, the top 20 fast-growers captured strong tailwinds from rebounding tourism, resource demand (coal, nickel, energy), digital transformation, and industrial growth in Southeast Asia.

In a positive sign for female leadership in the region, Fortune's analysts noted there are 37 female CEOs leading Southeast Asia 500 companies, up from 29 reported last year. There are also 37 women holding the position of chairman. This growth in diversity, alongside the ten CEOs in their 30s, underscores the region's evolving leadership landscape. The average age of the chief executives leading the 500 companies is 58. In total, the 2025 Southeast Asia 500 companies employ more than 6.3 million people.

The 2025 Fortune Southeast Asia 500 list and stories are available internationally on Fortune.com/asia and on newsstands across Asia starting today, June 17. The list and rankings can be viewed at https://fortune.com/asia/ranking/southeast-asia-500/2025/.

About Fortune

Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum and Brainstorm Tech. For more information, visit fortune.com.

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FORTUNE UNVEILS 2025 SOUTHEAST ASIA 500

SHANGHAI, April 4, 2026 /PRNewswire/ -- From April 2 to 31, the Assembly Character Toys brand Blokees made its debut at the 2026 Thailand Toy Expo. Blokees unveiled its two major categories — Blokees Model Kits and Blokees Wheels, highlighting a diverse product matrix of more than 300 products across 17 globally recognized IPs, including Ultraman, Transformers, DC, Evangelion, Naruto, Minions, Jurassic World, Hatsune Miku, and Hero Infinity. Four new model kits also made their global debut, emerging as key highlights of the event.

Mario Maurer attended the opening ceremony of Blokees Thailand Toy Expo as a special guest and engaged in interactive exchanges with consumers.

In the Blokees Model Kits category, Blokees exhibited its Champion, Legend, and Fantastic Series, featuring popular IPs such as Transformers, DC, Mega Man, Saint Seiya, Evangelion, and Naruto. More than 50 products were presented to consumers. Among them, four newly launched items—including Blokees Saint Seiya-Champion Class-12-Phoenix Ikki, Blokees Saint Seiya-Champion Class-14-Andromeda Shun, Blokees DC-Champion Class 05-Batman (HUSH), and Blokees DC-Champion Class 06-Catwoman (Hush)—drew strong interest from fans.

Blokees also highlighted its HERO5 and HERO10 series, featuring well-known IPs including Transformers, Saint Seiya, and Naruto, catering to consumers of hero-themed collectible models.

The DaaLaMode series introduced a range of products inspired by popular IPs such as Hatsune Miku, appealing to female consumers. Meanwhile, the TERRAVENTURE series presented nature and creature-themed model kits based on Jurassic World, further expanding Blokees' offerings across different consumer segments.

In the Blokees Wheels category, which integrates construction, play, and customization, products are organized into the C, E, and S series. The lineup includes IP-based offerings from Transformers, Ultraman, and Batman, with upcoming collaborations featuring Fast & Furious and Ford.

In addition, Blokees highlighted its global consumer ecosystem, BFC (Blokees Family Creator). Selected works from 2025 The 3rd BFC Creation Contest Stellar Season were exhibited in Thailand for the first time, reflecting strong user creativity and engagement. 2026 The 4th BFC Creation Contest Season of Awakening has officially launched, further encouraging global participation.

Under its "Universally appealing, Stepwise pricing, Globally promoting" strategy, Blokees continues to expand across Southeast Asia, Europe, North America, and Latin America. Thailand is rapidly becoming a strategic hub in its regional expansion, as the company strengthens both product innovation and community-driven growth worldwide.

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Blokees made its debut at 2026 Thailand Toy Expo, exhibiting multiple products