Thailand Secures Corporate Clout in Southeast Asia with 100 Firms in Fortune Rankings

Thai corporate giants have solidified their dominance in the 2025 Fortune Southeast Asia 500 list, with an impressive 100 Thai companies earning spots. Among them, PTT retained its prestigious second-place ranking for the second year in a row, underscoring Thailand’s expanding economic influence in the region.

Key highlights from the report include:

• Strong Thai Representation: Thailand boasts 100 companies on the list, with five ranking within the top 20 by revenue. This signifies the resilience and growing influence of Thai businesses in Southeast Asia’s dynamic economic environment.
• Top Performers: PTT leads Thailand’s contingent, maintaining its second-place position. Other Thai firms achieving top-tier status include CP All, Charoen Pokphand Foods, Bangchak, and Indorama Ventures.
• Sector Dominance: The energy sector is a major contributor to Thailand’s success, with Bangchak showing a remarkable 47% revenue increase and entering the top 20. The financial sector also demonstrates strength, with Kasikornbank being one of only two Thai companies in the top 20 most profitable firms.
• Growth and Innovation: Thailand’s corporate sector is characterized by innovation and growth, with four Thai companies – Asset World, Bangchak, Thai Eastern Group Holdings, and Airports of Thailand – listed among the 20 fastest-growing by revenue. This reflects successful navigation of post-pandemic recovery, particularly in tourism and digital transformation.

Bangkok, June 26, 2025 — Thailand has solidified its status as a regional economic heavyweight with 100 Thai companies securing spots in the 2025 Fortune Southeast Asia 500 list, second only to Indonesia. The rankings highlight the country’s sustained corporate resilience and its growing influence amid Southeast Asia’s economic transformation.

Leading the Thai charge is energy giant PTT, which maintained its position as the second most powerful company in the region. Alongside PTT, four other Thai corporations—CP All, Charoen Pokphand Foods, Bangchak, and Indorama Ventures—secured places in the regional top 20 by revenue. Bangchak notably surged into this elite group after a dramatic 47% increase in revenue, reflecting strong momentum in the energy sector.

Kasikornbank joined PTT as one of only two Thai companies to feature among the 20 most profitable firms across Southeast Asia, underscoring Thailand’s robust banking infrastructure.

Beyond profitability, Thai companies also showed dynamic growth: Asset World, Bangchak, Thai Eastern Group Holdings, and Airports of Thailand all ranked among the 20 fastest-growing firms by revenue. These gains were attributed in part to recovery in tourism and rapid digital transformation.

Thailand’s top 20 companies collectively generated $266.4 billion, accounting for 76% of total revenue from all Thai firms on the list. The energy sector remained dominant region-wide, contributing nearly a third of total revenue, followed by financial services.

The 2025 list, based on fiscal year 2024 performance, included companies from seven countries. Indonesia led with 109 firms, followed by Thailand (100), Malaysia (92), Singapore (81), Vietnam (76), the Philippines (40), and Cambodia (2). Minimum revenue for inclusion was $349.4 million, with the full list generating $1.82 trillion in revenue—up from $1.79 trillion in the prior year.

The rankings also reflected shifting global supply chains, as companies increasingly pivot away from China amid trade tensions. Thailand’s corporate diversity—from traditional sectors like energy and agriculture to emerging digital infrastructure and tourism—positions it as a central player in regional and global value chains.

Gender diversity showed modest gains, with 37 female CEOs and 37 women chairing firms across the Fortune Southeast Asia 500. Thailand contributed significantly to this figure, pointing to a gradual transformation in corporate leadership.