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Trafigura Group tops the 2026 Fortune Southeast Asia 500 for the third consecutive year, with US$240.3 billion in revenue
Vietnam companies emerge as the ranking's standout growth story, with aggregate revenue up 10.5% — triple the regional average
Revenue threshold to qualify for the 2026 Fortune Southeast Asia 500 jumps 26% to US$440.6 million
Two Singapore-based crypto-mining firms debut on the list
40 female CEOs on the list, including Fortune's Most Powerful Woman in Asia, DBS CEO Tan Su Shan
SINGAPORE, June 16, 2026 /PRNewswire/ -- Today, Fortune announced the Fortune Southeast Asia 500™ rankings for 2026, the third annual list of the largest companies in the region, ranked by revenue for the 2025 fiscal year.
Topping the 2026 Fortune Southeast Asia 500 for the third consecutive year is Singapore-headquartered commodity trader Trafigura Group (No. 1), with US$240.3 billion in revenue. It is followed by Thailand's state energy company PTT (No. 2, US$81.0 billion), Indonesia's Pertamina (No. 3, US$70.9 billion), Singapore-based agribusiness giant Wilmar International (No. 4, US$70.4 billion), and fellow Singapore company Olam Group (No. 5, US$51.5 billion). Three of the top five are headquartered in Singapore.
Vietnam was the ranking's standout growth story. The country's 72 companies generated US$177.9 billion in aggregate revenue, up 10.5% year-over-year — triple the regional average. Despite representing less than 10% of the overall revenue base, Vietnam's companies contributed roughly a quarter of this year's total revenue growth across the entire ranking.
Thailand leads all countries with 105 companies on the list, narrowly ahead of Indonesia's 104. Singapore's 82 companies generate the ranking's highest aggregate national revenue at US$657.6 billion. Malaysia accounts for 93 companies, Vietnam 72, the Philippines 42 — up two from last year — and Cambodia 2.
Energy remained the dominant sector by revenue at 31.5% across 57 companies, led by the state-linked oil and gas majors that have anchored the list since its 2024 launch. Financials ranked second by company count with 76 companies, contributing 16.2% of revenue. Yet the story flips when considering profits: Energy players accounted for 15.7% of profits on the list compared to 43% for Financials. Among the 34 new entrants, Thailand added the most with nine, followed by Malaysia with eight; Financials and Engineering & Construction each contributed six.
The revenue threshold for the 2026 Fortune Southeast Asia 500 rose to US$440.6 million — 26% higher than last year's. The 500 companies collectively generated US$1.878 trillion in revenue for fiscal year 2025, up 3.4% from the comparable figures in last year's published list, with combined profits of US$150.0 billion. Concentration at the top remains pronounced: the top five companies account for US$514.1 billion in revenue (27.4% of the total); the top 20 account for US$850.4 billion (45.3%).
"What this year's Southeast Asia 500 really tells us is that the region is starting to decouple from its commodity identity. The corporate center of gravity is moving toward finance, technology, and a new tier of national champions," notes Andrew Staples, Editorial Director, Asia. "The fourth edition, in 2027, will tell us whether 2026 marked the start of a genuine reordering of the Southeast Asian corporate landscape — or simply a particularly good year for the region's emerging tier," he adds.
Thirty-four new companies joined the ranking, including two Singapore-headquartered bitcoin miners making their first appearance on the list. Bitdeer Technologies Group (No. 401) with US$620.3 million in revenue, and BitFuFu (No. 475) with US$477.5 million, are the first crypto-mining companies ever to qualify for the Fortune Southeast Asia 500, a sign that the region's corporate landscape is broadening into new categories even as the bar to compete rises sharply.
Among movers, Yanlord Land fell 98 places as revenue dropped 60.5%, and Lopez Holdings fell 94 places on a 49.5% revenue decline. On the upside, both standout risers came from Indonesia: Hartadinata Abadi climbed 115 places on revenue growth of 135%, while Barito Pacific rose 102 places on growth of 220%.
Among the 500 companies, 40 are led by female CEOs — including Tan Su Shan of DBS (No. 8), who ranks sixth globally and first in Asia on Fortune's 2026 Most Powerful Women in Business list.
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 captures "Southeast Asia shrugged off tariffs and trade protectionism last year to remain one of the world's most dynamic regions. Southeast Asian countries are vital nodes in global supply chains; foreign investment from both Asia and the West is pouring in; and the region's young, mobile-savvy consumers are driving domestic spending."
The 2026 Fortune Southeast Asia 500 list and stories are available internationally on Fortune.com/asia and on newsstands across Asia starting today, June 16. The list and rankings can be viewed at https://fortune.com/asia/ranking/southeast-asia-500/2026/.
About Fortune
Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world's new generation of innovators. 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, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.
Media Contacts:
Patrick Reilly
Fortune
Patrick.Reilly@fortune.com
Charmian Choo
Fortune in Asia
Charmian.CHOO@fortune.com
Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com
Trafigura Group tops the 2026 Fortune Southeast Asia 500 for the third consecutive year, with US$240.3 billion in revenue
Vietnam companies emerge as the ranking's standout growth story, with aggregate revenue up 10.5% — triple the regional average
Revenue threshold to qualify for the 2026 Fortune Southeast Asia 500 jumps 26% to US$440.6 million
Two Singapore-based crypto-mining firms debut on the list
40 female CEOs on the list, including Fortune's Most Powerful Woman in Asia, DBS CEO Tan Su Shan
SINGAPORE, June 16, 2026 /PRNewswire/ -- Today, Fortune announced the Fortune Southeast Asia 500™ rankings for 2026, the third annual list of the largest companies in the region, ranked by revenue for the 2025 fiscal year.
Topping the 2026 Fortune Southeast Asia 500 for the third consecutive year is Singapore-headquartered commodity trader Trafigura Group (No. 1), with US$240.3 billion in revenue. It is followed by Thailand's state energy company PTT (No. 2, US$81.0 billion), Indonesia's Pertamina (No. 3, US$70.9 billion), Singapore-based agribusiness giant Wilmar International (No. 4, US$70.4 billion), and fellow Singapore company Olam Group (No. 5, US$51.5 billion). Three of the top five are headquartered in Singapore.
Vietnam was the ranking's standout growth story. The country's 72 companies generated US$177.9 billion in aggregate revenue, up 10.5% year-over-year — triple the regional average. Despite representing less than 10% of the overall revenue base, Vietnam's companies contributed roughly a quarter of this year's total revenue growth across the entire ranking.
Thailand leads all countries with 105 companies on the list, narrowly ahead of Indonesia's 104. Singapore's 82 companies generate the ranking's highest aggregate national revenue at US$657.6 billion. Malaysia accounts for 93 companies, Vietnam 72, the Philippines 42 — up two from last year — and Cambodia 2.
Energy remained the dominant sector by revenue at 31.5% across 57 companies, led by the state-linked oil and gas majors that have anchored the list since its 2024 launch. Financials ranked second by company count with 76 companies, contributing 16.2% of revenue. Yet the story flips when considering profits: Energy players accounted for 15.7% of profits on the list compared to 43% for Financials. Among the 34 new entrants, Thailand added the most with nine, followed by Malaysia with eight; Financials and Engineering & Construction each contributed six.
The revenue threshold for the 2026 Fortune Southeast Asia 500 rose to US$440.6 million — 26% higher than last year's. The 500 companies collectively generated US$1.878 trillion in revenue for fiscal year 2025, up 3.4% from the comparable figures in last year's published list, with combined profits of US$150.0 billion. Concentration at the top remains pronounced: the top five companies account for US$514.1 billion in revenue (27.4% of the total); the top 20 account for US$850.4 billion (45.3%).
"What this year's Southeast Asia 500 really tells us is that the region is starting to decouple from its commodity identity. The corporate center of gravity is moving toward finance, technology, and a new tier of national champions," notes Andrew Staples, Editorial Director, Asia. "The fourth edition, in 2027, will tell us whether 2026 marked the start of a genuine reordering of the Southeast Asian corporate landscape — or simply a particularly good year for the region's emerging tier," he adds.
Thirty-four new companies joined the ranking, including two Singapore-headquartered bitcoin miners making their first appearance on the list. Bitdeer Technologies Group (No. 401) with US$620.3 million in revenue, and BitFuFu (No. 475) with US$477.5 million, are the first crypto-mining companies ever to qualify for the Fortune Southeast Asia 500, a sign that the region's corporate landscape is broadening into new categories even as the bar to compete rises sharply.
Among movers, Yanlord Land fell 98 places as revenue dropped 60.5%, and Lopez Holdings fell 94 places on a 49.5% revenue decline. On the upside, both standout risers came from Indonesia: Hartadinata Abadi climbed 115 places on revenue growth of 135%, while Barito Pacific rose 102 places on growth of 220%.
Among the 500 companies, 40 are led by female CEOs — including Tan Su Shan of DBS (No. 8), who ranks sixth globally and first in Asia on Fortune's 2026 Most Powerful Women in Business list.
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 captures "Southeast Asia shrugged off tariffs and trade protectionism last year to remain one of the world's most dynamic regions. Southeast Asian countries are vital nodes in global supply chains; foreign investment from both Asia and the West is pouring in; and the region's young, mobile-savvy consumers are driving domestic spending."
The 2026 Fortune Southeast Asia 500 list and stories are available internationally on Fortune.com/asia and on newsstands across Asia starting today, June 16. The list and rankings can be viewed at https://fortune.com/asia/ranking/southeast-asia-500/2026/.
About Fortune
Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world's new generation of innovators. 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, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.
Media Contacts:
Patrick Reilly
Fortune
Patrick.Reilly@fortune.com
Charmian Choo
Fortune in Asia
Charmian.CHOO@fortune.com
Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Fortune Unveils 2026 Southeast Asia 500
SINGAPORE, June 16, 2026 /PRNewswire/ --
Recognising a Shared Commitment to Employee Experience
NLCS (Singapore), an international school in Singapore, has been awarded Bronze in the Best HR Digital Transformation Strategy category at the Employee Experience Awards (EXA) 2026, one of Asia's most prestigious pan-regional HR accolades.
Held at Shangri-La Singapore, the awards brought together leading organisations from across a range of industries to celebrate progress and recognise initiatives that support people in the workplace. Guided by an esteemed panel of judges, the Employee Experience Awards focus on four key areas - leadership, learning, engagement and talent acquisition.
What the EXA 2026 Award Recognises
NLCS (Singapore)'s bronze win in the Best HR Digital Transformation Strategy category reflects the school's ongoing work in modernising its HR processes through digitisation and digitalisation, with the goal of streamlining operations, improving the employee experience, and better supporting the needs of the wider school community.
This recognition speaks to the work taking place behind the scenes to improve the staff experience, ensuring colleagues are supported by systems and processes that free them to focus on what matters most - supporting students and delivering an outstanding education.
Elvin Goh, Senior HR Manager at NLCS (Singapore), shared that receiving this recognition is meaningful for the team, not because of the award itself, but because of what it reflects.
"This is a shared achievement, and one that speaks to the consistent work that has gone into ensuring our people feel supported. Our vision has always been to put staff experience first, and this is an encouraging sign that we are heading in the right direction."
A Better Staff Experience Across the School
Danielle Lim, Personal Assistant to the Senior School Principal added, "Having clearer systems and easier access to support has freed us up to focus on what we are here to do. It is encouraging to see continued efforts to simplify processes and make it easier for staff to access the support and information they need."
Experiences like these reflect the broader impact of the work on employee experience. When the right systems and processes are in place, the difference is felt across the whole school community.
A Reflection of Collective Effort
While the award was received by the Human Resources team, it reflects the contributions of many colleagues across the school who have embraced new ways of working and supported ongoing improvements.
For NLCS (Singapore), this recognition represents a continued commitment to putting people first, fostering a workplace where staff feel supported and where the conditions are in place for great teaching and learning to thrive.
About North London Collegiate School (Singapore)
Founded in August 2020, North London Collegiate School (Singapore) is a British international school in Singapore offering the academically ambitious NLCS curriculum, followed by the International Baccalaureate's Middle Years Programme and culminating in the IB Diploma Programme.
Drawing upon 175 years of educational heritage from its founding school in the UK, NLCS (Singapore) nurtures individuals to be intellectually curious, socially confident, and grounded in compassion. Every student is known, challenged, and celebrated through a rigorous academic framework, rich co-curricular opportunities, and exceptional pastoral care.
Situated on Depot Road, the school is part of a global family of schools committed to educational excellence and developing global citizens.
To learn more about NLCS (Singapore), please visit our website and follow us on Instagram, Facebook, YouTube and LinkedIn.
For media queries, please contact the NLCS (Singapore) Marketing Team
Email: marketing@nlcssingapore.sg
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
NLCS (Singapore) Honoured at the Employee Experience Awards 2026 for its HR Digital Transformation Strategy
