Last year, Fortune magazine compiled its inaugural list of Southeast Asia’s Top 500 companies from Indonesia, Thailand, Malaysia, Singapore, Vietnam, Cambodia, and the Philippines.
2025 marks the second edition of this most-wanted list.
Companies are ranked by revenue for their latest available respective fiscal years, and these have all been converted to US dollars at the prevailing exchange rates.
This year saw several new entrants to this coveted list, while many of the Top 20 positions were occupied by notable Singaporean blue-chip players.
Here are some of the Singapore companies that made it to Fortune 500’s Southeast Asia Top 500 companies list.
Top 20 on the list
#4 – Wilmar International (SGX: F34)
Wilmar International is the highest-ranked Singaporean company on the list and is an integrated agribusiness player.
For the first quarter of 2025 (1Q 2025), revenue rose 3.3% year on year to US$16.2 billion while core net profit inched up 4.4% year on year to US$343 million.
#5 – Olam Group (SGX: VC2)
Olam Group is also a leading food and agribusiness group that supplies food, ingredients, feed, and fibre to customers around the globe.
For 2024, the group reported revenue of S$56.2 billion, up 16.3% year on year.
However, core net profit, which excludes exceptional items, plunged 52.8% year on year to S$216.3 million.
A final dividend of S$0.03 was declared, taking the total dividend for 2024 to S$0.06.
The three banks also featured prominently on the list, as follows.
#6 – DBS Group (SGX: D05)
DBS reported a mixed set of results for 1Q 2025, with total income rising 6% year on year to S$5.9 billion.
Net profit, however, dipped 2% year on year to S$2.9 billion because of the implementation of a 15% global minimum tax rate.
Singapore’s largest bank paid out a quarterly dividend of S$0.75, a 39% year-on-year increase from the S$0.54 paid out in the previous quarter.
#12 – United Overseas Bank (SGX: U11)
United Overseas Bank, or UOB, is Singapore’s third-largest bank by market capitalisation.
Total income increased 6% year on year to S$3.7 billion, but net profit slid 2% year on year to S$1.5 billion.
#13 – Oversea-Chinese Banking Corporation (SGX: O39)
Oversea-Chinese Banking Corporation, or OCBC, is Singapore’s second-largest bank.
The lender saw total income creep up 1% year on year to S$3.7 billion for 1Q 2025.
Net profit, however, fell by 5% year on year to S$1.9 billion.
#20 – Singapore Airlines Limited (SGX: C6L)
Singapore Airlines Limited, or SIA, is Singapore’s flagship carrier.
For its fiscal 2025 (FY2025) ending 31 March 2025, the airline saw revenue rise 2.8% year on year to S$19.5 billion.
Net profit increased by 3.9% year on year to S$2.8 billion but was boosted by a S$1.1 billion one-off non-cash accounting gain from the merger of Air India and Vistara.
The carrier declared a final dividend of S$0.30, with the total dividend for the fiscal year coming in at S$0.40.
New entrants
The Top 500 list also saw several new Singaporean entrants.
#413 – Boustead Singapore (SGX: F9D)
The highest on the list of new entrants is Boustead Singapore, or BSL, a conglomerate with four divisions – energy engineering, real estate, healthcare, and geospatial.
For FY2025, the group saw revenue tumble 31% year on year to S$527.1 million.
Core net profit, however, rose 8% year on year to S$68.6 million.
The conglomerate declared a final dividend of S$0.04 and a special dividend of S$0.02, taking its total FY2025 dividend to S$0.075.
#464 – Food Empire (SGX: F03)
Food Empire is a food and beverage manufacturing company that sells well-known 3-in-1 instant coffee brands such as MacCoffee and Klassno.
1Q 2025 saw revenue climb 16.3% year on year to US$136.6 million, led by a 33.8% year-on-year revenue jump in Southeast Asia.
#455 – China Sunsine Chemical Holdings (SGX: QES)
China Sunsine is a specialty chemicals producer and the largest rubber accelerator producer in the world.
For 2024, gross revenue inched up 1% year on year to RMB 3.5 billion while net profit improved by 14% year on year to RMB 423.9 million.
China Sunsine increased its 2024 dividend to S$0.03 versus S$0.025 for the previous year.
#484 – Straits Trading Company (SGX: S20)
Straits Trading Company, or STC, is also a conglomerate with operations and financial interests in resources, property, and hospitality.
For 2024, the group reported a net profit of S$11 million, a reversal from the net loss of S$12.1 million in the previous year.
Directors have proposed an interim dividend of S$0.08 per share, similar to what was paid in the previous year.
Get Smart: Weighing the pros and cons
It is no doubt prestigious to be included within Fortune’s list; investors should note that this list is just a simple compilation of companies with the highest revenue.
The list also tells you each company’s profits, assets, and number of employees.
However, you will still need to analyse each company for its pros and cons, along with its prospects, before you invest in any of them.
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Disclosure: Royston Yang owns shares of DBS Group and Boustead Singapore.
