Singapore-based Trafigura tops inaugural Fortune 500 ranking for S-E Asia

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COMMODITY trader Trafigura has come in first on the inaugural South-east Asian edition of the Fortune 500 list, a ranking of the largest companies by revenue.

On Tuesday (Jun 18), Fortune said that Trafigura dominated the ranking with sales of US$244 billion.

“The privately held commodity trader in minerals, metals and energy had the fewest employees among the list’s top 10 companies by revenue and is the second most profitable amongst this group,” it added.

This comes amid the fallout of a bribery probe. In March, the trader pleaded guilty in the US to a decade of oil bribery in Brazil and agreed to pay about US$127 million.

Four other Singapore-based companies also made it to the top 10 list. The companies are ranked by their revenue for the fiscal year ending Dec 31, 2023.

Agribusiness groups Wilmar International and Olam Group came in fourth and fifth, respectively. Manufacturing services provider Flex ranked eighth, while Singapore’s largest lender DBS came in 10th.

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DBS also emerged top, in terms of revenue and earnings, in the top 20 list.

Fortune, which publishes an annual list of the 500 top-grossing US companies, as well as global, Europe and China rankings, said its focus on South-east Asia comes as the region “gains greater significance” in the global economy due to shifting supply chains and the rapid development of economies.

The inaugural ranking includes companies from seven nations in the region: I...

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