Business magazine Fortune has launched its inaugural Southeast Asia 500 list with banks being the most profitable amongst the top 10.
At $7.5 billion, DBS was the most profitable company in Fortune’s «Southeast Asia 500» list. In fact, six out of the top 10 profit leaders on the list are banks including OCBC, UOB, Bank Rakyat Indonesia, Bank Mandiri and Bank Central Asia.
By revenue, banking was Southeast Asia’s second-largest sector at $242 billion behind the energy sector.
Country Leaders
By country, Indonesia has the most companies on the list at 110, followed by Thailand (107) and Malaysia (89). Singapore had 84 companies on the list including five in the top 10.
«The Fortune Southeast Asia 500 reflects a dynamic and fast-changing region – one whose core economies are growing notably faster than those of Europe or the US,» said Clay Chandler, executive editor, Asia at Fortune. «This is partly due to Southeast Asia taking on far greater significance in the global economy, not least because a host of Global 500 multinationals have shifted more of their supply chains to Southeast Asian nations.»
