Fortune Southeast Asia 500

The third annual Fortune Southeast Asia 500 captures a regional corporate landscape in transition. 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. Further down the ranking, however, growth is accelerating: Vietnamese companies, with revenues up 10.5% to $177.9 billion, account for roughly one-quarter of the list’s overall revenue increase. Singapore’s leading banks, tech group Sea, and restructurings such as Thai Airways and True Corp. deliver some of the most notable year‑on‑year gains in revenue and profit. This year’s Southeast Asia 500 shows which companies are capturing a growing share of the region’s revenue and profits.