San Miguel Corp. (SMC) has solidified its status as the country’s largest and most significant business organization, ranking 9th in the 2025 Fortune Southeast Asia 500, a comprehensive list of the region’s top revenue-generating companies.
This marks the second consecutive year that the diversified conglomerate ranked in the regional top 10, underlining its continued growth and strategic importance. San Miguel, historically known for its flagship beer and liquor operations, reported revenues of US$27.49 billion, buoyed by aggressive expansion into infrastructure, including airports and toll roads.
The Fortune Southeast Asia 500, now in its second year, includes top firms from seven countries—Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia—highlighting their rising influence in global supply chains and regional economic reshaping.
San Miguel’s enduring dominance underscores its pivotal role not only in domestic commerce but also in regional trade dynamics, especially as Southeast Asia emerges as a key manufacturing and investment hub amid global supply chain realignments.
SM Investments Corp., the Sy family’s holding company, followed as the Philippines’ second-highest entry at 25th, with revenues of US$11.43 billion, while Manila Electric Co. (Meralco) ranked 35th with US$8.21 billion.
Notable gainers include Ayala Corporation, which jumped 23 spots to 47th with $6.45 billion in revenue. Ayala affiliates Bank of the Philippine Islands (90th) and Globe Telecom Inc. (114th) also secured strong positions. The group’s collective rise “mirrors the dynamism in the region’s business environment,” Fortune noted.
Emerging digital entertainment leader DigiPlus Interactive Corp. made one of the biggest leaps on the list, soaring to 223rd from 482nd, as its revenue nearly tripled to US$1.31 billion. Chairman Eusebio Tanco credited the achievement to both business innovation and a commitment to responsible gaming.
Other Filipino firms in the ranking include JG Summit Holdings Inc. (61st), Aboitiz Equity Ventures Inc. (68th), Jollibee Foods Corp. (79th), Cosco Capital Inc. (88th), Alliance Global Group Inc. (92nd), and PLDT Inc. (95th). D&L Industries Inc., the country’s leading chemical manufacturer, made its debut at 355th with $710 million in revenues.
Topping the regional list is Singapore-based Trafigura Group, followed by Thailand’s PTT Public Co. Ltd. and Indonesia’s Pertamina.
The Fortune Southeast Asia 500 reflects not only the region’s growing economic might but also the strength and resilience of Filipino corporations competing on a regional and global scale.
