Latest news with #FortuneSoutheastAsia500
Yahoo
29-07-2025
- Business
- Yahoo
Flex's CEO took the job without industry experience. One battle-tested playbook guided every move
In 2019, when Revathi Advaithi took the CEO role at Singapore-based Flex (No. 10 on the Fortune Southeast Asia 500), the company's stock was trading at just under $7, its longtime CEO had recently been ousted, and the broader contract manufacturing industry lacked financial discipline. Advaithi, who had only interacted with Flex as a supplier, wasn't stepping into familiar terrain, but she didn't overthink it. 'It was a quant problem,' she says. 'I thought I could double the stock. And if it doesn't work in two years, I'll go do something else.' That kind of grounded pragmatism has defined her leadership philosophy for decades. No matter the role, she starts with a deceptively simple framework: Define the portfolio, clarify the value to customers, and understand why they're willing to pay for it. 'Strategy doesn't need to be flashy,' she says. 'Every job I've had, I've just focused on those two things.' Her first year at Flex was spent putting that into practice. She told the board not to expect decisions until she had completed a full strategic review. Upon completion, the diagnosis was clear: The company needed to exit hyper-commoditized segments, such as smartphones and laptops, where pricing power was weak and volatility was high. Flex would instead double down on complex manufacturing for sectors like health care, industrials, and automotive—areas where execution mattered and margins could follow. But even a disciplined plan was quickly stress-tested. Two months into Advaithi's tenure, the U.S. government placed Huawei—then one of Flex's largest customers—on the Entity List, forcing a rapid response across supply chains and customer relationships. Then came the pandemic and a global logistics crunch. Through it all, Advaithi says the basic playbook didn't change. 'Get your portfolio right. Make sure you can win for customers. Execute.' That consistency extended to how Flex presented itself to investors. The company made a conscious shift away from chasing growth for its own sake and began emphasizing capital discipline, margins, and long-term resilience. Advaithi's path to Flex came after a moment of career inflection. While running North America for Eaton in 2015, she was asked to take over its global electrical business following leadership turnover. She accepted, but was open with the incoming CEO that he should feel free to choose his own team. 'If a great CEO role comes your way,' he told her, 'I won't stop you.' She turned down another offer in the industrial sector before accepting Flex—a less regulated, more fragmented industry where she saw room to impose operational order. One of her more prescient bets was the early decision to invest in the intersection of compute and power, well before the current AI boom. 'Long before Nvidia and GPUs took off, I figured compute was going to become power-hungry,' she says. Flex began acquiring capabilities in power infrastructure for data centers. Today, roughly a quarter of its business supports AI infrastructure, putting it in a differentiated position among contract manufacturers. Ruth This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
14-07-2025
- Business
- Business Wire
Mobvista Debuts on Fortune 500 Southeast Asia List, Fueled by Strong Ad Tech Business Growth
SINGAPORE--(BUSINESS WIRE)--Mobvista ( a leading global marketing and advertising technology company, today announced it has been named to the second annual Fortune 500 Southeast Asia list, ranking at #208. The prestigious list recognizes the largest companies in the region by revenue. Mobvista's inclusion reflects the company's robust financial growth in 2024, driven by investment in AI-powered technologies and global adoption of its programmatic advertising platform, Mintegral. For the twelve months ended December 31, 2024, Mobvista reported the following financial highlights: Revenue: Reached USD 1.51 billion, a year-over-year (YoY) increase of 43.0%. Gross Profit: Recorded at USD 316.3 million, increasing 45.6% YoY. Adjusted EBITDA: Reached USD 138.3 million, up 31.3% YoY. The company's investment in AI and machine learning continues to be the primary engine of this growth. Mintegral generated USD 1.44 billion in revenue in 2024 – a 47.2% increase YoY, with smart bidding products contributing over 70% of the total revenue. Clement Cao, Co-founder and CEO of Mobvista, said: 'Being included in the Fortune Southeast Asia 500 list is a meaningful milestone that reflects our evolving role as the growth hub for global developers. In a world where AI is evolving at an unprecedented pace, our mission remains clear: to help developers turn complexity into opportunity. This recognition validates our strategy of investing in intelligent, performance-driven solutions and inspires us to continue building tools that empower our clients to grow smarter, faster, and more sustainably.' Fortune's new list highlights the economic dynamism of Southeast Asia, a region emerging as a crucial engine for global growth. Mobvista was bolstered by a successful multi-vertical strategy, with gaming revenue rising 37.0% YoY to USD 1.04 billion and the non-gaming segment climbing 82.0% YoY to USD 403.3 million in 2024. The Fortune Southeast Asia 500 list ranks companies from seven nations, including Singapore, Indonesia, Thailand, Malaysia, Vietnam, the Philippines, and Cambodia. Collectively, the 500 companies on the 2025 list generated $1.82 trillion in revenue. About Mobvista Mobvista ( is a leading global marketing and advertising technology company, providing a complete suite of advertising and analytics tools for app developers and marketers seeking global growth. Providing a range of tailored solutions, such as user acquisition, creative automation, and cross-channel media buying, Mobvista enables mobile businesses to maximize their potential.
Borneo Post
10-07-2025
- Business
- Borneo Post
Hajiji: SMJ Plan driving modern, inclusive and competitive Sabah economy
Hajiji signing the plaque commemorating the opening of the AFFIN Bank Inanam branch on Thursday. INANAM (July 10): The State Government remains firmly committed to shaping a modern, competitive and inclusive economy for Sabah through the Hala Tuju Sabah Maju Jaya (SMJ) development plan, said Chief Minister Datuk Seri Panglima Hajiji Noor. 'Under the Hala Tuju Sabah Maju Jaya (SMJ) development plan, we have a clear direction. Our roadmap is designed to build an economy that is not only modern and competitive but also inclusive — uplifting every community, whether rural or urban,' he said. He explained that SMJ serves as the overarching framework for various sectoral blueprints, anchored on three foundational pillars: Agriculture, Industry, and Tourism, Investing in People and Enhancing Connectivity with a Green Approach. 'We are not just building an economy — we are building a shared future where the benefits of progress are felt across every district, including here in Inanam,' he said during the official opening of the AFFIN Inanam Branch at Plaza Kolombong on Thursday. Hajiji emphasised that a thriving economy must be underpinned by financial inclusion. 'A strong, accessible and inclusive banking system is vital to unlocking the full potential of our people and businesses. In Sabah, 98% of all businesses are SMEs — the backbone of local enterprise and employment,' he said. However, many SMEs still face real challenges, such as limited access to credit, digital readiness gaps, and difficulty adapting to evolving markets. 'Banks like AFFIN can help bridge these gaps through targeted financing for agriculture and eco-tourism, mentoring and advisory support, dedicated financing for women entrepreneurs, and financial literacy programmes — especially for youth entering the digital economy,' he said. He stressed the importance of empowering all Sabahans with the financial tools and support to grow, save and contribute meaningfully to the state's economy. 'Meaningful development must begin with access to capital and services that support entrepreneurship and upward mobility. For our rural communities, small businesses and youth venturing into the digital economy, this access must unlock real progress,' he added. The Chief Minister said with AFFIN's comprehensive suite of banking services, Sabah is moving towards a more financially inclusive society where opportunities reach all. He also congratulated AFFIN Group on its milestone achievements, including: Winning a place in the Fortune Southeast Asia 500 for the second year in a row and a strong debut in the USD bond market with 3.5 times oversubscription, demonstrating investor confidence in AFFIN's fundamentals.
Bangkok Post
09-07-2025
- Business
- Bangkok Post
PTT keeps No.1 in Thailand, No.2 in Southeast Asia on Fortune list
PTT Plc has cemented its position as one of Southeast Asia's corporate powerhouses, securing the No.2 ranking in the Fortune Southeast Asia 500 for the second consecutive year. The state-owned energy conglomerate also retained its status as the top-ranked company in Thailand, reflecting its continued leadership in the energy sector and commitment to balanced sustainability during a period of global economic and energy volatility. The Fortune Southeast Asia 500 is a regional expansion of the prestigious Fortune Global 500, which has tracked the world's largest companies by revenue since 1955. The Southeast Asian edition, launched in 2024, recognises the top-performing companies in one of the fastest-growing regions in the world. PTT President and CEO Kongkrapan Intarajang said the ranking underscores the company's ability to adapt, grow, and uphold energy security, even amid global headwinds. "Despite volatile energy markets and a global economic downturn, our strategy has proven effective," he said. "We have continued to grow while reinforcing our environmental responsibilities under our Together for Sustainable Thailand, Sustainable World vision." The company's mission, he added, is to secure Thailand's energy future while advancing growth in parallel with reducing greenhouse gas emissions. Balanced growth strategy PTT's strategy focuses on strengthening its core hydrocarbon business to maintain national energy security, while enhancing value in areas such as LNG, petrochemicals, and refining. This includes expanding international petroleum exploration and production and positioning Thailand as a regional LNG trading hub. At the same time, the group is actively diversifying into non-hydrocarbon businesses with selectivity—prioritising sectors with strong market potential, clear competitive advantages, and robust strategic partnerships—while avoiding overcrowded, high-risk industries. Sustainability remains a key pillar of PTT's long-term roadmap. The group has committed to achieving Net Zero emissions by 2050, with a concerted, group-wide approach to reducing carbon output. This includes exploring carbon capture and storage (CCS) technologies and developing a CCS hub model to benefit both PTT and other domestic industries, with potential regional expansion. PTT is also exploring low-carbon hydrogen and ammonia supply chains, particularly for use in industrial and power generation applications—areas it sees as future growth engines. Operational excellence and governance In parallel with its external efforts, the group is also investing internally to improve operational efficiency and competitiveness. It is leveraging digital and AI technologies to enhance performance and profitability, while implementing key internal projects across subsidiaries to deliver integrated value. PTT has also reinforced its commitment to fiscal discipline, prudent investment, and effective liquidity management. The group adheres to principles of transparency and good governance, aiming to create balanced value for all stakeholders—including shareholders, communities, and the nation at large.
Korea Herald
08-07-2025
- Business
- Korea Herald
BRI Secures Global Recognition as Indonesia's Top Financial Institution in Fortune Southeast Asia 500
JAKARTA, Indonesia, July 8, 2025 /PRNewswire/ -- Bank Rakyat Indonesia (Persero) Tbk, (IDX: BBRI), has attained another milestone in its international standing, earning top honors in the 2025 Fortune Southeast Asia 500 list. BRI ranks as the highest-performing financial institutions from Indonesia and claims the 4th position within Southeast Asia financial sector. BRI is placed 14th among Southeast Asia's 500 largest corporations by revenue. This achievement positions BRI alongside top-tier corporations in the region, even surpassing well-known names such as SEA and Singapore Airlines from Singapore, Charoen Pokphand Foods from Thailand, and Maybank from Malaysia. This accomplishment is a result of BRI's strong financial performance over the past year. According to Fortune's official publication, BRI recorded USD 17.68 billion in consolidated revenue for the fiscal year, marking an 18.6% year-on-year growth by the end of 2024. The Fortune Southeast Asia 500 2025 is the second edition of this annual ranking, which highlights the performance of the largest companies in Southeast Asia based on revenue ending on or before 31 December 2024. All data used has been rigorously verified with the support of global research institutions such as LSEG (London Stock Exchange Group), Bloomberg, and S&P Global Market Intelligence. This second edition also emphasizes Southeast Asia's growing strategic role in global supply chain shifts and the rapid growth of industries such as mining, electric vehicles (EVs), and artificial intelligence (AI). BRI President Director Hery Gunardi stated that this achievement is a clear testament to BRI's continued commitment to maintaining solid performance fundamentals amid global economic challenges and dynamics. According to him, this recognition further motivates the company to strengthen BRI's presence both nationally and globally. "BRI's transformation into a universal banking institution is the answer. BRI aims not only to be the best bank for the MSME segment but also to serve the full spectrum of customer needs, from individuals to large corporations, across all levels of society," he added. Hery Gunardi also expressed his appreciation to all Insan BRILiaN (BRI employees) and loyal BRI customers. "I am extremely proud, and we dedicate this achievement to all Insan BRILiaN for their outstanding contributions, and to our loyal customers for their unwavering trust in us," he concluded.
