Regional Powerhouses: Thai Corporations Biden Their Top Positions in Regional Rankings
Thailand's Top Companies Shine in Fortune Southeast Asia 500 List
Thailand's corporate sector has made a strong showing in the Fortune Southeast Asia 500 list for 2025, with 100 companies representing the kingdom and 107 companies overall in the region.
Leading the charge is PTT Public Company Ltd, Thailand’s largest company and the only Thai company on the Fortune Global 500. With combined revenues of over US$57 billion in 2021, PTT is the biggest revenue generator in Thailand by a wide margin.
Another major Thai firm on the list is Bangkok Bank, described as Thailand’s largest bank and one of ASEAN’s top banks, holding assets exceeding US$130 billion. While its exact 2025 revenue is not given, it is a major player in finance.
PTT maintains the second place position for the second consecutive year, generating a significant 47% revenue increase and securing a spot in the top 20. Kasikornbank is one of only two Thai companies amongst the top 20 most profitable firms regionally.
CP All, Charoen Pokphand Foods, Bangchak, and Indorama Ventures are also amongst the top 20 Thai companies on the list. The four Thai companies Asset World, Bangchak, Thai Eastern Group Holdings, and Airports of Thailand secured positions amongst the 20 fastest-growing firms by revenue.
Energy companies contributed nearly one-third of total combined revenues across all 500 firms, with financial services emerging as the second-largest sector. The top five companies collectively generated nearly $516 billion, representing 28% of the total revenue across all 500 listed firms.
The state-owned petroleum company leads Thailand's contingent on the list. The rankings underscore Southeast Asia's growing strategic importance within global supply chains, particularly as companies relocate operations from China due to escalating trade tensions and higher tariffs.
Thailand's strong representation across multiple sectors—from traditional energy and agriculture to emerging digital and tourism ventures—positions the kingdom advantageously for continued regional economic leadership. The minimum revenue threshold for inclusion in the 2025 rankings stood at $349.4 million, with the complete list of 500 companies generating combined revenues of $1.82 trillion in 2024, up from $1.79 trillion the previous year.
For more precise and current rankings and revenue data for Thailand’s top 20 companies on the 2025 Fortune Southeast Asia 500 list, the official Fortune Southeast Asia 500 publication or related financial disclosures would need to be consulted directly.
Demographic shifts within corporate leadership present encouraging trends for the region, with 37 female CEOs and 37 women holding chairman positions across the Fortune Southeast Asia 500 companies. The list includes companies from seven nations: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia. Fortune's Southeast Asia 500 ranking is based on fiscal year 2024 revenues.
- Infrastructure development, coupled with a strong business sector, has contributed to Thailand's significant presence in the Fortune Southeast Asia 500 list, with various companies from sectors like energy, finance, and tourism making the cut.
- The Thai conglomerate, CP All, is not only amongst the top 20 Thai companies on the list but also ranks among the top 20 most profitable firms regionally, demonstrating the diverse investing opportunities in the kingdom.
- The growth in tourism, digital ventures, and strategic investments have positioned Thailand advantageously, enabling the country to maintain its regional economic leadership as highlighted by the Fortune Southeast Asia 500 ranking.
- The Fiscal Year 2024 revenues for Thailand’s top companies, such as Bangkok Bank and Kasikornbank, have been instrumental in securing their positions on the Fortune Southeast Asia 500 list, showcasing the importance of financial Management and strategic planning in business.
