89 M’sian firms on inaugural Fortune SEA 500 list

Maybank is the only Malaysian company to make it into the top-20 list, at No. 17 with US$14.15bil in revenue.

PETALING JAYA: A total of 89 Malaysian companies, led by Malayan Banking Bhd (Maybank), have made it into Fortune’s inaugural list of Top 500 South-East Asian companies by revenue.

Notably, Maybank was the only Malaysian company to make it into the top- 20 list, at No 17 with US$14.15bil in revenue, Fortune said in a statement yesterday.

The global multi-platform media group noted that on the Top 20 companies by profitability, Maybank was joined by two other Malaysian banks, namely, CIMB Group Holdings Bhd and Public Bank Bhd.

Under this category, Maybank took the 11th spot, while CIMB was ranked 17th and Public Bank 19th.

Fortune said the inaugural rankings included companies from seven nations in the region – Indonesia, Thailand, Malaysia, Singapore, Vietnam, Cambodia and the Philippines. The minimum revenue threshold to be included on the list was US$460.8mil.

“The Fortune South-East Asia 500 reflects a dynamic and fast-changing region – one whose core economies are growing notably faster than those of Europe or the United States.

“This is partly due to South-East Asia taking on far greater significance in the global economy,” Fortune executive editor for Asia, Clay Chandler, said.

Overall, Indonesia dominated the Top 500 list, with 110 companies.

This was followed by Thailand with 107 companies and Malaysia with 89 companies on the list, edging out Singapore with 84. Vietnam was home to 70 companies on the list, the Philippines to 38 and Cambodia to two.

Fortune revealed that in revenue terms, Singapore-based commodities trader Trafigura was No 1 on the list, dominating the rankings with sales of US$244bil.

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