Business

38 Philippine Firms Earn Spots on Fortune’s First ‘Southeast Asia 500’ List, San Miguel Corp. Secures 9th Place

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Fortune’s inaugural Southeast Asia companies ranking list included 38 Philippine companies in the top 500, with San Miguel Corp. (SMC) being the sole Philippine company in the top 10, securing the 9th spot.

Last year, 38 of the highest revenue-generating firms in Southeast Asia were listed in Fortune Magazine’s “Southeast Asia 500”. Together, they achieved sales of USD130.94 billion. This shows how the region is becoming increasingly important for Western companies looking to diversify their supply chain.

Business tycoon Ramon Ang’s SMC ranked 9th among the 500 SEA firms. Last year, SMC had revenues of USD26.02 billion. The Sy family-led conglomerate SM Investments Corp. followed at 27th place with revenues of USD10.3 billion.

Other notable firms on the list include Manila Electric Co. (34th), JG Summit Holdings (55th), BDO Unibank Inc. (57th), Aboitiz Equity Ventures (59th), Ayala Corp. (70th), GT Capital Holdings (74th), Jollibee Foods Corp. (86th), Cosco Capital (95th), PLDT Inc. (97th) and Alliance Global Group (100th).

According to Clay Chandler, Fortune Asia Executive Editor, the new list highlights the rapid economic growth and dynamic nature of the region. He points out that the core economies in SEA are expanding at a faster rate compared to companies in Europe or the US.

“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,” shared Chandler.

In the June/July issue of Fortune Asia, Chandler introduces the new list of the Southeast Asia 500. He mentions that the list will track the rise and fall of the region’s industries, covering commodities, transportation, finance, retail, tech, and services. It aims to capture the rapid changes in the region in the years ahead.

Written by
Tech Beat Philippines

Tech Beat Philippines is the social media news platform for all things technology. It is also a part of the GEARS section on Daddy's Day Out.

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