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2025年《財(cái)富》東南亞500強(qiáng)排行榜揭曉

按營收衡量,這個(gè)城邦小國拔得頭籌。

今年是《財(cái)富》第二次發(fā)布東南亞500強(qiáng)榜單,這份按營收排名的該地區(qū)規(guī)模最大公司年度榜單展現(xiàn)了一個(gè)蓄勢(shì)待發(fā)的區(qū)域景象:東南亞地區(qū)正準(zhǔn)備利用全球供應(yīng)鏈變革以及采礦、電動(dòng)汽車和人工智能等蓬勃發(fā)展的產(chǎn)業(yè)帶來的機(jī)遇——盡管美國的關(guān)稅政策可能會(huì)使去年的部分增長成果出現(xiàn)倒退。

去年首屆《財(cái)富》東南亞500強(qiáng)榜單中的七個(gè)國家——印度尼西亞、泰國、馬來西亞、新加坡、越南、菲律賓和柬埔寨——于今年再度上榜,并持續(xù)對(duì)該地區(qū)的經(jīng)濟(jì)產(chǎn)生深遠(yuǎn)影響。上榜企業(yè)的去年總營收達(dá)1.82萬億美元,較上年增長1.7%。這一漲幅滯后于榜單覆蓋的上述七個(gè)經(jīng)濟(jì)體所報(bào)告的4.1%的GDP增長率。

作為東南亞地區(qū)面積最大、經(jīng)濟(jì)體量最大的國家,印度尼西亞在東南亞500強(qiáng)中的上榜公司最多(109家);泰國以100家上榜企業(yè)位列第二。然而,若按營收衡量,小小的城邦國家新加坡則拔得頭籌??偛课挥谛录悠碌墓救ツ陝?chuàng)造了6,371億美元的營收,略高于該地區(qū)總營收的三分之一。

在營收規(guī)模上,今年榜單前五名的公司均足以入選去年的《財(cái)富》世界500強(qiáng)。這五家公司均經(jīng)營大宗商品業(yè)務(wù),包括金屬行業(yè)的托克集團(tuán)(Trafigura)、石油行業(yè)的泰國國家石油公司(PTT)和印尼國家石油公司(Pertamina),以及農(nóng)產(chǎn)品行業(yè)的豐益國際(Wilmar)和奧蘭集團(tuán)(Olam)。

印尼國家電力公司(Perusahaan Listrik Negara,PLN)在該榜單中排名第六,這一排位突顯了該榜單的另一個(gè)特點(diǎn):能源(無論是資源開采、發(fā)電還是電力輸送)是東南亞500強(qiáng)的主導(dǎo)行業(yè),創(chuàng)造了近三分之一的地區(qū)總營收。泰國能源公司Bangchak營收飆升47%,躋身今年榜單前20名。

《財(cái)富》東南亞500強(qiáng)中,最賺錢的三家公司是新加坡的“三大銀行”:星展銀行(DBS)、華僑銀行(OCBC)和大華銀行(UOB)。其中,最年輕的星展銀行以85億美元的利潤在三者中居首。

盡管數(shù)字經(jīng)濟(jì)被預(yù)測(cè)將蓬勃發(fā)展,但科技公司在《財(cái)富》東南亞500強(qiáng)中占比較小。榜單前20名僅有一家科技公司——電商和游戲公司Sea??萍碱I(lǐng)域下一家上榜的互聯(lián)網(wǎng)公司是網(wǎng)約車平臺(tái)Grab,位列第128位,相比去年的排名攀升了超過20個(gè)位次。

但東南亞無法避開最新的科技趨勢(shì)。榜單上營收增幅最大的公司是馬來西亞代工廠NationGate控股(排名第243位),其銷售額在過去一年驚人地增長了723%,突破10億美元。NationGate的故事與AI息息相關(guān):隨著馬來西亞及東南亞地區(qū)試圖通過數(shù)據(jù)中心和新的AI初創(chuàng)企業(yè)搭上AI技術(shù)快車,NationGate等公司作為英偉達(dá)(Nvidia)在該地區(qū)組裝AI服務(wù)器的唯一代工廠將坐享紅利。

東南亞500強(qiáng)企業(yè)正日益在全球供應(yīng)鏈中扮演重要角色——承接從中國轉(zhuǎn)移的制造業(yè)產(chǎn)能,這不僅吸引了巨額資本流入,還重塑著全球貿(mào)易格局。

以下是本榜單的前十名。

排名 公司名稱

1 托克集團(tuán)(Trafigura Group)

2 泰國國家石油有限公司(PTT)

3 印尼國家石油公司(Pertamina)

4 豐益國際公司(Wilmar International)

5 奧蘭集團(tuán)(Olam Group)

6 印尼國家電力公司(Perusahaan Listrik Negara)

7 星展集團(tuán)(DBS Group Holdings)

8 CP All

9 生力集團(tuán)(San Miguel)

10 偉創(chuàng)力(Flex)(財(cái)富中文網(wǎng))

新加坡上榜企業(yè)的總營收達(dá)6370億美元,約占榜單1.8萬億美元總營收的三分之一。

2025年2月17日,從濱海灣金沙酒店俯瞰新加坡中央商務(wù)區(qū)的景色。圖片來源:Nicky Loh—Bloomberg via Getty Images

《財(cái)富》東南亞500強(qiáng)榜單依據(jù)營收規(guī)模來衡量地區(qū)最大企業(yè),覆蓋七個(gè)經(jīng)濟(jì)體:印度尼西亞、泰國、馬來西亞、柬埔寨、越南、菲律賓和新加坡。

作為東南亞地區(qū)國內(nèi)生產(chǎn)總值與人口規(guī)模均居首位的經(jīng)濟(jì)體,印度尼西亞在榜單中占比最大,109家企業(yè)占總排名的五分之一以上。泰國作為該地區(qū)第二大經(jīng)濟(jì)體,以100家企業(yè)位列第二。

新加坡作為該地區(qū)人均國內(nèi)生產(chǎn)總值最高的經(jīng)濟(jì)體,企業(yè)數(shù)量排名處于中游,有81家公司躋身東南亞500強(qiáng)。

不過,若以營收來衡量,這個(gè)擁有六百萬人口的城市國家卻大幅領(lǐng)先東盟鄰國。

新加坡上榜企業(yè)的總營收達(dá)6370億美元,約占榜單1.8萬億美元總營收的三分之一。

是什么因素推動(dòng)新加坡在營收排名中實(shí)現(xiàn)攀升?

新加坡“三大銀行”——星展銀行(DBS)、華僑銀行(OCBC)和大華銀行(UOB)或許是這個(gè)城市國家最知名的企業(yè),也是東南亞500強(qiáng)中利潤最高的公司。

不過,它們并非榜單上規(guī)模最大的新加坡企業(yè)。

位居榜首的是托克集團(tuán)(Trafigura Group),這家大宗商品集團(tuán)涉足金屬、礦產(chǎn)、石油和天然氣業(yè)務(wù),2024年?duì)I收高達(dá)2432億美元,遠(yuǎn)超榜單上其他所有企業(yè),營收規(guī)模幾乎是新加坡營收排名第二企業(yè)的四倍。

位列第四和第五的豐益國際(Wilmar)與奧蘭集團(tuán)(Olam)均為農(nóng)業(yè)綜合企業(yè),深度參與黃油、堅(jiān)果、谷物和食用油等消費(fèi)品供應(yīng)鏈,2024年?duì)I收分別達(dá)674億美元、420億美元。

新加坡憑借其區(qū)域樞紐核心地位,成為企業(yè)拓展東南亞業(yè)務(wù),尤其是向鄰國馬來西亞和印尼拓展業(yè)務(wù)的首選之地。

新加坡作為金融中心的地位也助推其收入份額實(shí)現(xiàn)增長。托克集團(tuán)和偉創(chuàng)力(Flex,排名第十)均在新加坡注冊(cè)成立,根據(jù)《財(cái)富》雜志的排名規(guī)則,它們被認(rèn)定為新加坡公司——盡管這兩家公司絕大多數(shù)業(yè)務(wù)運(yùn)營,甚至運(yùn)營總部,均設(shè)在其他國家。

序號(hào) 公司名稱 營業(yè)收入

1 Trafigura Group $243,201.8

2 PTT $87,638.5

3 Pertamina $75,327

4 Wilmar International $67,379.1

5 Olam Group $42,028.2

6 Perusahaan Listrik Negara (PLN) $34,437.3

7 DBS Group Holdings $29,037.4

8 CP ALL $28,011.7

9 San Miguel $27,499.8

10 Flex $25,813

11 Petrovietnam $22,297.3

12 United Overseas Bank $20,864.3

13 Oversea-Chinese Banking $20,327.7

14 Bank Rakyat Indonesia $17,685

15 Sea $16,819.9

16 Charoen Pokphand Foods $16,468.7

17 Bangchak $16,329.7

18 Indorama Ventures $15,480.4

19 Maybank $15,077.6

20 Singapore Airlines $14,602.5

21 Siam Cement $14,495.7

22 Sime Darby $14,307.7

23 Bank Mandiri $13,048.8

24 Tenaga Nasional $12,408.3

25 SM Investments $11,429.8

26 Petrolimex $11,336.9

27 Golden Agri-Resources $10,909.7

28 Singtel $10,571.7

29 Thai Beverage $9,539.3

30 Telkom Indonesia $9,469.5

31 Kasikornbank $9,342.5

32 CIMB Group Holdings $8,457.4

33 ST Engineering $8,438.5

34 Petronas Dagangan $8,299.8

35 Manila Electric $8,210.6

36 Bank Central Asia $7,630.2

37 Vingroup $7,547.8

38 Bangkok Bank $7,541.1

39 Sumber Alfaria Trijaya $7,465.3

40 Indofood Sukses Makmur $7,311.2

41 Central Retail $6,925

42 Seatrium $6,908.1

43 Bank for Investment and Development of Vietnam (BIDV) $6,845.3

44 Petronas Chemicals Group $6,707.7

45 Agribank $6,651.9

46 YTL $6,498.4

47 Ayala $6,459.6

48 PTG Energy $6,403.6

49 SCB X $6,386.5

50 JG Summit Holdings $6,240.7

51 Gudang Garam $6,229.5

52 BDO Unibank $6,105.7

53 Genting $6,061.7

54 Advanced Info Service $6,056.4

55 VietinBank $6,054.1

56 Krungthai Bank $6,018.2

57 Public Bank $5,949.7

58 Bank Negara Indonesia (BNI) $5,942.6

59 TRUE $5,842.3

60 PSA International $5,780.2

61 GT Capital Holdings $5,612.6

62 Hoa Phat Group $5,542.6

63 Singapore Power (SP Group) $5,481.7

64 Mobile World Investment $5,362.4

65 IHH Healthcare $5,332.5

66 Adaro Andalan Indonesia $5,319.6

67 Thai Airways International $5,310

68 Aboitiz Equity Ventures $5,286.1

69 Pupuk Indonesia $5,153.5

70 Banpu $5,148.4

71 Yanlord Land Group $5,058.5

72 Batu Kawan $4,961.5

73 Keppel $4,940.2

74 Axiata Group $4,884.5

75 Berli Jucker $4,847.1

76 FGV Holdings $4,845.8

77 Sembcorp Industries $4,802.4

78 Mewah International $4,782

79 Jollibee Foods $4,712.1

80 Minor International $4,689.3

81 Vietcombank $4,655.2

82 Japfa $4,619

83 Capital A $4,445

84 Aneka Tambang $4,369.1

85 SD Guthrie $4,337

86 Vietnam Airlines $4,228.8

87 VPBank $4,173

88 Cosco Capital $4,136.3

89 Erajaya Swasembada $4,122

90 Bank of the Philippine Islands (BPI) $4,058.6

91 Thai Union Group $3,925.7

92 Alliance Global Group $3,902.5

93 SATS $3,830.1

94 Military Bank (MB Bank) $3,787.3

95 PLDT $3,785

96 Metropolitan Bank & Trust $3,611.4

97 BW LPG $3,563.7

98 DRB-Hicom $3,540.9

99 Indosat $3,528.9

100 Robinsons Retail Holdings $3,476.7

101 Bayan Resources $3,446.2

102 Gulf Energy Development $3,428.1

103 NTUC FairPrice (FairPrice Group) $3,420.5

104 Garuda Indonesia $3,416.5

105 ComfortDelGro $3,350.2

106 Techcombank $3,331.9

107 Masan Group $3,331.3

108 Press Metal Aluminium Holdings $3,260.7

109 RHB Bank $3,252

110 Sri Trang Agro-Industry $3,243.4

111 Betagro $3,239.4

112 Indah Kiat Pulp & Paper $3,195.7

113 Hong Leong Asia $3,180.2

114 Globe Telecom $3,152.3

115 Frasers Property $3,144.6

116 PAL Holdings $3,107.3

117 Thai Life Insurance $3,105.1

118 Bangkok Dusit Medical $3,102.7

119 Dian Swastatika Sentosa $3,017.8

120 Lopez Holdings $2,917.1

121 MISC $2,895

122 Fabrinet $2,883

123 Vietjet Aviation $2,875.8

124 Hafnia $2,868.6

125 International Container Terminal Services (ICTSI) $2,867.6

126 Gamuda $2,840.1

127 TMBThanachart Bank $2,820

128 Grab Holdings $2,797

129 CelcomDigi $2,773

130 Bukit Asam $2,700.3

131 Amman Mineral International $2,663.6

132 Telekom Malaysia $2,561.5

133 Yinson Holdings $2,539.4

134 HDBank $2,520.4

135 FPT $2,508.7

136 Hong Leong Financial Group $2,508.6

137 AnAn International $2,475.9

138 Vietnam Dairy Products (Vinamilk) $2,466.1

139 City Developments $2,448.1

140 Indika Energy $2,446.7

141 AKR Corporindo $2,445.5

142 Del Monte Pacific $2,427.7

143 Medco Energi Internasional $2,399.2

144 Mitra Adiperkasa $2,389.1

145 Barito Pacific $2,387

146 Siamgas & Petrochemicals $2,386.3

147 Asia Commercial Bank $2,374.7

148 Maxis $2,304.2

149 Saigon Thuong Tin Bank (Sacombank) $2,301

150 Semen Indonesia $2,284.9

151 Guan Chong $2,283.8

152 Mayora Indah $2,277.8

153 LT Group $2,251.2

154 Com7 $2,246.6

155 Merdeka Copper Gold $2,239

156 JOYY $2,237.8

157 Pelabuhan Indonesia (Pelindo) $2,199.5

158 99 Speed Mart Retail Holdings $2,183

159 Bank Tabungan Negara (BTN) $2,154.3

160 Berjaya $2,149.9

161 Saigon Hanoi Commercial Bank (SHB) $2,135

162 Mapletree Investments $2,130.3

163 Baoviet Holdings (BVH) $2,119.5

164 CapitaLand Investment $2,106.7

165 UOL Group $2,091.6

166 Alamtri Resources Indonesia $2,078.7

167 Kalbe Farma $2,060.2

168 Home Product Center $2,058.1

169 Venture $2,047.5

170 IOI $2,046.8

171 Leong Hup International $2,036

172 Changi Airport Group $2,028.2

173 Pindo Deli Pulp & Paper Mills $2,011.2

174 Italian-Thai Development $2,004

175 Malakoff $1,961.6

176 Aviasi Pariwisata Indonesia (InJourney) $1,928.4

177 Hutama Karya $1,910.2

178 China Banking $1,902

179 Airports of Thailand $1,881.6

180 Thaifoods Group $1,873.9

181 Indomobil Sukses Internasional $1,851.3

182 Unionbank $1,837.4

183 AMMB Holdings (AmBank Group) $1,829.6

184 Jasa Marga $1,812.4

185 DMCI Holdings $1,787.1

186 Filinvest Development $1,776.3

187 StarHub $1,772

188 Gas Malaysia $1,759.4

189 BUMA International Group $1,756.3

190 Sunway $1,723.9

191 Sinar Mas Multiartha $1,710.7

192 Surbana Jurong (SJ Group) $1,706.2

193 Trimegah Bangun Persada (Harita Nickel) $1,702.7

194 ASMPT $1,695.4

195 Vinacomin Northern Coal $1,667.5

196 Keppel Infrastructure Trust $1,657.1

197 Power Generation (EVNGENCO3) $1,624.2

198 Fraser and Neave $1,613.1

199 FPT Digital Retail $1,600.8

200 Metrodata Electronics $1,588

201 B.Grimm Power $1,583.9

202 Hoa Sen Group $1,582.2

203 Rizal Commercial Banking (RCBC) $1,570.9

204 Fortune Vietnam Bank (LPBank) $1,568.5

205 Central Pattana $1,527.1

206 Vietnam International Bank $1,513.4

207 Phu Nhuan Jewelry $1,509.7

208 Mobvista $1,507.8

209 Hutchison Port Holdings Trust (HPH Trust) $1,482.4

210 Monde Nissin $1,450.9

211 Vietnam Steel $1,443.2

212 QL Resources $1,433.6

213 Petronas Gas $1,429.9

214 Viettel Global Investment $1,411.7

215 Bumi Resources $1,359.7

216 Guocoland $1,349.3

217 Gelex Group $1,347.3

218 Bangkok Life Assurance $1,338.7

219 Stavian Chemical $1,330

220 Security Bank $1,322.7

221 Century Pacific Food $1,317.8

222 Tien Phong Bank (TPbank) $1,316.4

223 DigiPlus Interactive $1,313.1

224 Siam City Cement $1,307

225 Harum Energy $1,295.5

226 FKS Multi Agro $1,292.7

227 Metro Pacific Investments $1,276.3

228 IJM $1,275.6

229 Singapore Post $1,254.6

230 PTPP $1,251

231 Hap Seng Consolidated $1,231.4

232 Avarga $1,216

233 Wijaya Karya $1,215.1

234 Tasco JSC $1,206.6

235 ABM Investama $1,200.1

236 Synnex Thailand $1,188.3

237 CapitaLand Integrated Commercial Trust $1,187.2

238 TTC AgriS $1,182.4

239 Saha Pathanapibul $1,179.5

240 PPB Group $1,177.9

241 Sarawak Oil Palms $1,163.1

242 SP Setia $1,157.7

243 NationGate Holdings $1,152.7

244 Hartadinata Abadi $1,151

245 Electricity Generating $1,143.3

246 Bank Pembangunan Daerah Jawa Barat dan Banten (Bank BJB) $1,142.6

247 CapitaLand Ascendas REIT $1,139.8

248 Gajah Tunggal $1,138.4

249 Bank Pan Indonesia (Panin Bank) $1,118.3

250 Oriental Holdings $1,117.8

251 Sansiri $1,111.8

252 BRC Asia $1,105.2

253 CH Karnchang $1,099.4

254 Tunas Baru Lampung $1,099.4

255 Kiatnakin Phatra Bank (KKP) $1,091.3

256 Catur Sentosa Adiprana $1,090.9

257 Sheng Siong Group $1,069.2

258 AP Thailand $1,062.3

259 Bumitama Agri $1,056.5

260 Global Digital Niaga (Blibli) $1,055.5

261 Vietnam Rubber Group $1,047.5

262 First Resources $1,038.8

263 Bank Islam Malaysia $1,027.8

264 Mr D.I.Y. Group $1,017.3

265 TPI Polene $1,014.4

266 GoTo $1,003.6

267 Mitra Pinasthika Mustika $996.2

268 Regional Container Lines $995.2

269 Saigon General Service (SAVICO) $988.3

270 Pabrik Kertas Tjiwi Kimia $985.1

271 MobiFone $965.6

272 MNC Asia Holding $961.4

273 AFFIN Bank $960.6

274 Krakatau Steel $954.6

275 Scientex $952.4

276 Vale Indonesia $950.4

277 Southeast Asia Commercial Bank (SeAbank) $948.4

278 Baramulti Suksessarana $947.8

279 Vietnam Maritime Commercial Bank (MSB) $946.6

280 Sapura Energy $941.6

281 Susco $940.1

282 Ratch Group $939.6

283 Siam Global House $936.2

284 Sumber Global Energy $932.2

285 Sime Darby Property $929.6

286 Synergy Grid & Development $925.4

287 Aurora Design $924.9

288 Syarikat Takaful Malaysia Keluarga $922.5

289 Bloomberry Resorts $921

290 Singapore Exchange $913.7

291 Thoresen Thai Agencies $913.3

292 Supalai $907

293 V.S. Industry $904

294 Airports Corporation of Vietnam $902

295 Dohome $888.4

296 Digiworld $881.3

297 Bumi Serpong Damai $871.2

298 Thai Vegetable Oil $867.6

299 ACLEDA Bank $865.1

300 Tembaga Mulia Semanan $863.8

301 Stecon Group $862.2

302 Tempo Scan Pacific $862.2

303 KPJ Healthcare $857.8

304 Coteccons Construction $857.5

305 Vietnam Southern Food (Vinafood II) $856.6

306 Thai President Foods $850.5

307 Tigaraksa Satria $843.8

308 Adhi Karya $843.1

309 Hour Glass $840.2

310 Bermaz Auto $837.8

311 Basic Energy $837.1

312 C.I. Holdings $830.3

313 Viettel Post $827.6

314 Nam Kim Steel $822.6

315 Pharmaniaga $822.2

316 SiS Distribution Thailand $817.6

317 Orient Commercial Bank (OCB) $812.8

318 Thanh Le $809.2

319 Sarana Menara Nusantara $804.2

320 Petrindo Jaya Kreasi $801.7

321 Tipco Asphalt $800.3

322 Land and Houses $798.3

323 MNRB Holdings $797.2

324 Muangthai Capital $791.2

325 Serial System $788.7

326 Osotspa $780.6

327 Petchsrivichai Enterprise $780.3

328 North East Rubber $779.7

329 Super Hi International $778.3

330 Garudafood Putra Putri Jaya $772.6

331 Elang Mahkota Teknologi (EMTEK) $772.5

332 Siloam International Hospitals $770.8

333 Prima Andalan Mandiri (Mandiri Coal) $766.7

334 Bank Mega $766

335 AAPICO Hitech $765.7

336 Ton Dong A $763.8

337 Nam A Commercial Bank $756.8

338 Kenon Holdings $751.3

339 Sahaviriya Steel Industries $750.6

340 Bangkok Airways $738.5

341 Samudera Indonesia $737.4

342 IGG $735.3

343 Bumrungrad Hospital $733.4

344 Abundance International $729.7

345 Astro Malaysia Holdings $728.9

346 Lippo Karawaci $726.5

347 Hana Microelectronics $721.8

348 Multipolar $719.9

349 Alliance Bank Malaysia $716.6

350 AirAsia X $713.3

351 TISCO Financial Group $712

352 Bank Mayapada International $711.7

353 Chin Hin Group $711.3

354 Kirana Megatara $710.9

355 D&L Industries $710

356 Converge ICT $708.9

357 Ciputra Development $706.4

358 SCGJWD Logistics $700.6

359 Vinacomin Coal $699.9

360 Can-One $698.2

361 Metro Retail Stores Group $697.9

362 Wasco $696.4

363 BTS Group Holdings $692.6

364 Vinatex $691.6

365 Timah $685.5

366 Vietnam Export Import Bank (Eximbank) $684.7

367 Double A $683.6

368 Malayan Flour Mills $682.6

369 Central Plaza Hotel $679.2

370 Vietnam Maritime (VIMC) $677

371 Waskita Karya $676

372 Dialog Group $671.8

373 Summarecon Agung $670.8

374 UEM Edgenta $667

375 Sawit Sumbermas Sarana $664.4

376 BKI Holdings $664.2

377 Hong Leong Industries $663.1

378 OM Holdings $654.3

379 Viet Phat $648.9

380 Pan Group $645.9

381 CSE Global $644.5

382 Dharma Satya Nusantara $644

383 Daaz Bara Lestari $639.9

384 Manila Water $639.7

385 SOHO Global Health $635.1

386 VSTECS $634.6

387 SVI $628.4

388 Ngern Tid Lor $628.4

389 IOI Properties Group $626.5

390 Rojana Industrial Park $623.4

391 Diamond Food Indonesia $619.5

392 Citra Borneo Utama $616.7

393 Parkson Holdings $613.5

394 Triputra Agro Persada $610.7

395 Putra Mandiri Jembar $609.1

396 Pan-United $607.9

397 CapitaLand Ascott Trust $605.8

398 Cortina Holdings $603.2

399 Carabao Group $600.2

400 TOA Paint (Thailand) $596.8

401 Srisawad $596.8

402 Wilcon Depot $596.5

403 Asset World $595.8

404 Pruksa Holding $595.4

405 Frencken Group $594.5

406 Minh Phu Seafood $588.2

407 Bank Jatim $586.3

408 Central Proteina Prima $586

409 PropNex $586

410 Hibiscus Petroleum $578.8

411 Millennium Group Asia $576.6

412 SC Asset $575.7

413 Boustead Singapore $570.9

414 Cisarua Mountain Dairy (Cimory) $569.8

415 An Phat Holdings $566.5

416 Anabatic Technologies $565.4

417 Raffles Medical Group $562.5

418 NagaCorp $562.5

419 Ultrajaya Milk Industry & Trading $560.3

420 Cemindo Gemilang $559.3

421 Ann Joo Resources $552

422 Mah Sing Group $551.2

423 Malaysia Steel Works (Masteel) $548.9

424 GFPT $547.7

425 Cikarang Listrindo $547

426 TMT Steel $546.1

427 MBM Resources $543.6

428 Aspirasi Hidup (Azko) $541.9

429 Dabaco Group $541.8

430 Top Glove $536.9

431 WP Energy $532.3

432 Thai Credit Bank $530.3

433 Vinacomin Minerals Holding (VIMICO) $529

434 Energy Absolute $525.3

435 SSI Group $524

436 Mapletree Industrial Trust $518.7

437 Hotel Properties $518.6

438 Vinaconex $513.7

439 Westports Holdings $512.7

440 Vinacomin Power $512.5

441 Multi-Chem $511.7

442 TTCL $508.2

443 Aspial $507.7

444 Thai Group Holdings $506.4

445 National Power Supply $504.8

446 Viettel Construction $503.3

447 Bumi Armada $502.8

448 Delfi $502.7

449 Vinh Hoan $499.5

450 Sea Oil $496.2

451 AIG Asia Ingredients $494.4

452 CAB Cakaran $494.2

453 Bac A Commercial Bank $489.9

454 Eco World Development Group $489.8

455 China Sunsine Chemical Holdings $488.6

456 Magnum $487.9

457 Lautan Luas $487.6

458 OUE $483.8

459 Bangkok Expressway & Metro $482.2

460 United Plantations $480.7

461 Thai Eastern Group Holdings $480

462 Sao Mai Group $479.5

463 Southern Steel $478.9

464 Food Empire Holdings $476.3

465 QAF $476.1

466 Harrisons Holdings Malaysia $475.4

467 Quang Ninh Thermal Power $475.3

468 Avia Avian $471.8

469 Tin Nghia $468.4

470 Energi Mega Persada $467.4

471 Quantum Clovera Investama $467.2

472 Aztech Global $465.2

473 Khon Kaen Sugar Industry $464.3

474 Tan Chong Motor Holdings $455.5

475 APM Automotive Holdings $454.7

476 M Cash Integrasi $451.1

477 MK Restaurants Group $448.3

478 TBS Energi Utama $445.6

479 Univentures $443.1

480 Hai Phong Thermal Power $440.5

481 An Binh Commercial Bank (ABBank) $435.6

482 Capital Financial Indonesia $427.4

483 Ancom Nylex $426.1

484 Straits Trading $422.6

485 Vegetexco Port $422.4

486 KCE Electronics $420.6

487 Kaset Thai International Sugar $414.2

488 Geo Energy Resources $401.9

489 SKP Resources $399.2

490 Hartalega Holdings $396.1

491 DXN Holdings $390.4

492 Nickel Asia $389.7

493 Darma Henwa $380.9

494 VNG $370.2

495 BLD Plantation $368.4

496 PVI Holdings $366.7

497 Malaysian Resources (MRCB) $359.8

498 SMC Trading Investment $356.4

499 Gunung Raja Paksi $351.8

500 Poh Kong Holdings $349.4