PV Gas named in Top 100 of Fortune Southeast Asia 500
PV Gas, the gas arm of state-run Petrovietnam, is among 70 Vietnamese enterprises featured in the Fortune Southeast Asia 500, which was recently announced by prestigious Fortune magazine.
The ranking was made based on the firms’ 2023 annual income. In the Top 100, PV Gas, listed on the Ho Chi Minh Stock Exchange as GAS, ranks 98th with a revenue of $3.8 billion.
Two other member companies of state-run Petrovietnam, namely Binh Son Refining and Petrochemical Joint Stock Company (BSR) and Petrovietnam Oil Corporation (PV Oil), come in 52nd and 88th with respective revenues of $6.2 billion and $4.3 billion.
The Fortune Southeast Asia 500 also sees the presence of other Petrovietnam units, namely Petrovietnam Power Corporation (PV Power), Petrovietnam Technical Services Corporation (PTSC), Petrosetco Assets Management JSC, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo), and Petrovietnam Ca Mau Fertilizer JSC (PVCFC).
The logo of the Fortune Southeast Asia 500. Photo courtesy of the corporation.
The reputed Fortune magazine announced its rankings in Southeast Asia for the first time to reflect the region's impressive development through the strong growth of major businesses. The list ranks 500 top enterprises in 57 fields from seven countries: Indonesia, Thailand, Singapore, Malaysia, Vietnam, the Philippines and Cambodia.
In the rankings, Indonesia takes the lead with 110 companies, followed closely by Thailand with 107. Malaysia, with 89 companies, surpasses Singapore, which has 84. Vietnam boasts 70 companies, while the Philippines 38 and Cambodia two.
PV Gas's Dinh Co gas plant in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of the corporation.
The Fortune Southeast Asia 500 reflects a dynamic and fast-changing region whose core economies are growing faster than those of Europe or the U.S. This is partly due to Southeast Asia taking on far greater importance in the global economy, as a host of Global 500 multinationals have shifted many of their supply chains to Southeast Asian nations, said Clay Chandler, executive editor for Asia at Fortune.
Companies making the inaugural Fortune Southeast Asia 500 will join the ranks of top corporations recognized through various Fortune lists, including the original Fortune 500, Fortune Global 500, Fortune Europe 500, and Fortune China 500.
In the stock market, GAS closed Wednesday at VND82,000 ($3.27) per share.
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