Maybank tops 89 Malaysian companies in Fortune’s SEA 500 list
Published on: Tuesday, June 18, 2024
By: FMT
Maybank topped the Malaysian companies listed by profitability in Fortune’s Southeast Asia 500 rankings for 2024 at 11th place. (Bernama pic)
PETALING JAYA: Malayan Banking Bhd (Maybank) has topped the 89 Malaysian companies listed by revenue in Fortune’s Southeast Asia 500 rankings for 2024, making 17th place at US$14.15 billion (RM66.7 billion).
According to the recently released rankings, Maybank also topped the Malaysian companies listed by profitability at 11th place, followed by CIMB Group Holdings Bhd at 17th and Public Bank Bhd at 19th.
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Banking made up Southeast Asia’s second-largest sector with collective revenues of US$242 billion.
With 110 companies, Indonesia dominated the rankings which also included companies from Thailand, Singapore, Vietnam, the Philippines and Cambodia.
Thailand followed with 107, Malaysia with 89, and Singapore with 84, while Vietnam had 70, the Philippines 38, and Cambodia two.
Singapore-based commodities trader Trafigura was ranked first for revenue with sales of US$244 billion.
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Fortune noted that the privately held commodity trader in minerals, metals and energy had the fewest employees among the list’s top 10 companies by revenue, and was the second most profitable within the group.
The 10 largest companies on the list reported revenue of US$650 billion, accounting for more than a third of the revenue for the fiscal year 2023 across all Southeast Asia 500 companies, which reported total revenues of US$1.8 trillion.
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The minimum revenue threshold for inclusion on the list was US$460.8 million.
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