Forty Philippine companies have earned a spot on Fortune Magazine’s 2024 “Southeast Asia 500” list, a prestigious ranking of the region’s largest firms by revenue — signaling strong potential for the country amid shifting global trade trends.
San Miguel Corp. (SMC), headed by billionaire Ramon Ang, emerged as the highest-ranking Philippine firm, securing the ninth spot overall with $27.5 billion in revenues. It was the only Filipino company to break into the Top 10.
Also placing high on the list were SM Investments Corp. at 25th, Manila Electric Co. (35th), Ayala Corp. (47th), and JG Summit Holdings Inc. (50th), representing the strength of diversified businesses across energy, retail, and infrastructure.
Fortune Asia executive editor Clay Chandler emphasized the region’s growing economic clout, noting that “the region has become a crucial manufacturing and export hub, which is drawing significant capital flows.” He added that trade tensions and tariff shifts from the Trump administration have accelerated the pivot toward Southeast Asia.
Other Filipino firms recognized include BDO Unibank Inc. (52nd), GT Capital Holdings Inc. (61st), Aboitiz Equity Ventures Inc. (68th), Jollibee Foods Corp. (79th), and Cosco Capital Inc. (88th), underscoring the diverse sectors fueling the country’s regional economic impact.
