Forty-two Philippine companies made it to this year’s edition of Fortune’s Southeast Asia 500 list with Top Frontier Investment Holdings Inc., the controlling shareholder of San Miguel Corp., again topping the domestic rankings.
Top Frontier, 10th overall in the region with revenues of $25.89 billion, was followed by SM Investments Corp. (28th, $11.85 billion), Manila Electric Co. (36th, $8.65 billion), Ayala Corp. $6.68 billion) and BDO Unibank (52nd, $6.59 billion).
Rounding out the top 10 were GT Capital Holdings Inc. (57th, $6.03 billion), JG Summit Holdings Inc (63rd, $5.94 billion), Aboitiz Equity Ventures (69th, $5.45 billion), Jollibee Foods Corp. (71st, $5.30 billion) and Bank of the Philippine Islands (85th, $4.57 billion).
The rest were:
- Cosco Capital (86th, $4.56 billion;
- Metropolitan Bank & Trust Co. (95th, ($3.82 billion);
- PLDT Inc. (96th, $3.8 billion);
- Robinsons Retail Holdings Inc. (100th, $3.66 billion);
- Alliance Global Group (112th, $3.3 billion);
- International Container Terminal Services Inc (113th, $3.23 billion);
- PAL Holdings Inc. (115th, $3.2 billion);
- Globe Telecom Inc. (119th, P3.1 billion);
- LT Group (149th, $2.31 billion);
- China Banking Corp. (161st, $2.14 billion);
- DMCI Holdings Inc. (174th, $1.89 billion);
- Filinvest Development Corp. (176th, $1.87 billion);
- Union Bank of the Philippines (182nd, $1.8 billion);
- Security Bank Corp. (202nd, $1.63 billion);
- Rizal Commercial Banking Corp. (204th, $1.62 billion);
- Monde Nissin Corp. (209th, $1.5 billion);
- Synergy Grid and Development Phils. Inc. (211th, $1.48 billion);
- Lopez Holdings Corp. (214th, $1.47 billion);
- DigiPlus Interactive Corp. (215th, $1.46 billion);
- Metro Pacific Investments Corp. (216th, $1.449 billion);
- Century Pacific Food Inc. (217th, $1.448 billion);
- Prime Infrastructure Capital Inc. (246th, $1.18 billion);
- D&L Industries Inc. (289th, $963 million);
- Bloomberry Resorts Corp. (303rd, $909 million);
- Basic Energy Corp. (304th, $907 million);
- Converge ICT Solutions Inc. (343rd, $778 million);
- Steel Asia Manufacturing Corp. (356th, $737 million);
- Metro Retail Stores Group Inc. (359th, $729 million);
- Wilcon Depot Inc. (403rd, $616 million);
- SSI Group Inc. (437th, $537 million);
- Nickel Asia Corp. (453rd, $515 million); and
- Asia United Bank (457th, $508 million).
Singapore’s Trafigura Group topped the regional ranking with $240.27 billion in revenues, followed by Thailand’d PTT ($81.04 billion), Indonesia’s PT Pertamina ($70.9 billion), and Singapore’s Wilmar International ($70.42 billion) and Olam Group ($51.5 billion).
“The third annual Fortune Southeast Asia 500 captures a regional corporate landscape in transition,” Fortune said.
“The commodity and energy giants that have anchored the ranking since its 2024 debut are slowing, even as they still generate a substantial share of the list’s 2025 revenues of $1.88 trillion and $150 billion in profits,” it added.
Growth accelerated further down, however, with Vietnamese companies, whose revenues rose 10.5 percent to $177.9 billion, accounting for about a quarter of the overall revenue gain this year.
Singaporean top banks, the tech group Sea and Thai Airways and True Corp restructurings also delivered notable gains.
“This year’s Southeast Asia 500 shows which companies are capturing a growing share of the region’s revenue and profits,” Fortune said.
THE MANILA TIMES