Our Hong Leong Group companies, City Developments Limited (CDL) and Hong Leong Asia (HLA) have made their mark on the inaugural Fortune 500 Southeast Asia List. The list is Fortune 500's first Southeast Asian edition of the 500 largest companies in the region.

In a strong showing, CDL and HLA were two out of 84 companies ranked by revenue in the fiscal year ending 31 December 2023, that are based in Singapore.

Ranked at #101, CDL is a global real estate developer with a network spanning 163 locations across 29 countries, owning about 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally. The developer has been at the forefront of Singapore's property sector since 1963 and has shaped the city’s skyline with numerous architectural icons such as The Sail @ Marina Bay, Republic Plaza and South Beach. The company reported a revenue of US$3.68 billion for FY 2023.

Coming in at #118, HLA is a diversified multinational with core businesses in building materials and powertrain solutions. With a history spanning six decades, the company was Singapore’s first ready-mix concrete supplier, and prides itself with one of its landmark contributions when it provided 1.2 million cubic metres of ready-mixed concrete to the iconic Marina Bay Sands Integrated Resort when construction first began in 2007. The company posted revenue of US$3.04 billion for FY 2023.

In a statement, US-based Fortune, which publishes a much-watched annual list of the 500 top-grossing US companies as well as global, Europe and China rankings, said its focus on Southeast Asia companies comes amid the rapid development of the region’s economies and its growing significance in the global economy due to shifting supply chains.

The inaugural rankings include companies from seven nations: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia.