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"Dream - Fortune Magazine releases Fortune Southeast Asia 500 which contains a list of the 500 largest companies in Southeast Asia. This list is the first one ever created by Fortune."
The Chief Editor of Fortune Asia Magazine, Clay Chandler, explains that Fortune's 500 Largest Companies in Southeast Asia reflects a dynamic and rapidly changing region. The region has an economy that is growing much faster than Europe or the United States (US).
The text translates to: "the word is quoted from Liputan6.com, Tuesday, June 18, 2024."
Indonesia dominates with 110 companies. Followed by Thailand with 107 companies. Malaysia, with 89 companies on the list, surpasses Singapore with 84 companies.
"Vietnam is home to 70 companies on the list, the Philippines with 38 companies, and Cambodia with two companies."
From 500 companies, there are the top ten companies from diverse groups. Here is the list: 1. Trafigura Group Singapore 2. PTT Thailand 3. Pertamina Indonesia 4. Wilmar International Singapore 5. Olam Group Singapore 6. Perusahaan Listrik Negara (PLN) Indonesia 7. CP All Thailand 8. Flex Singapore 9. San Miguel Philippines 10. DBS Group Holdings Singapore.
Ten of the largest companies on the list reported revenues of US$650 billion. This revenue accounted for more than a third of the fiscal year 2023 revenue for all 500 Largest Companies in Southeast Asia, which reported a total revenue of US$1.8 trillion.
The minimum income threshold for inclusion in the list is US$460.8 million. With a collective income of US$242 billion, the banking sector becomes the second largest sector in Southeast Asia. Significantly, nine banks are included among the top 20 most profitable companies, with DBS Singapore leading in terms of both revenue and profit.
Bank Rakyat Indonesia, Bank Mandiri, Bank Central Asia from Indonesia are also included in the list of the aforementioned banks.
Minister of State-Owned Enterprises Erick Thohir has released the list of 15 State-Owned Enterprises with the highest revenue in 2023.
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