DBS is only SG firm in APAC's top 50 companies by market cap

It landed on the 40th spot, the GlobalData ranking showed.

DBS ranked 40 in GlobalData's top 50 firms by market capitalisation in the Asia Pacific, the only Singaporean company included in the list.

The company improved its ranking from 55th in the previous year after it grew its market capitalisation value year-on-year (YoY) to $91.2b.

The combined market capitalisation of the top 50 companies in the region surged to $8.1t reflecting a 20.6% YoY increase. Technology firms led the charge, with Taiwan Semiconductor Manufacturing Company and Tencent Holdings dominating the rankings.

Accordingly, the technology sector topped with 16 companies contributing a total market value of $3.1t. China led the rankings with 22 companies collectively valued at $3.9t, followed by Japan with 11 companies at $1.4t, and India with seven companies accounting for $914b.

The oil and gas sector reflected a mixed performance. The market cap of PetroChina, ranked 10th, grew by 22.8%, whilst CNOOC’s 46.5% growth propelled it to 24th place.

In contrast, Indian energy giant Reliance Industries slipped to 13th with an 8.6% decline, reflecting margin pressures and challenges in downstream operations.

Chinese financial institutions maintain a commanding presence as ICBC, Agricultural Bank of China, and Bank of China stood at third, sixth, and eighth, respectively.

“Equity markets in early 2025 will likely be influenced by key policy decisions such as any fiscal support measure from China, a shift in trade and diplomatic strategies of the US under a new government, or an announcement of an interest rate hike,” Murthy Grandhi, company profiles analyst at GlobalData, said.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia