Many people in the business world are familiar with the Fortune 500 list, which ranks the world’s largest companies by revenue.
While Fortune typically focuses on the US market, it has recently released a Fortune Southeast Asia 500 list, highlighting the region’s largest businesses by total revenue for the year ending December 31, 2023.
Out of the 500 companies on this list, 29 are led by female CEOs. Notably, seven of these companies are based in Singapore.
This is significant because various studies have shown that companies led by female CEOs often outperform those led by male CEOs in several metrics, including profitability and shareholder returns.
As more women break through the “glass ceiling” and enter the C-suite in Southeast Asia, it is worthwhile to look closer at the seven female CEOs in Singapore who lead firms on the Fortune Southeast Asia 500 list.
Flex – CEO Revathi Advaithi
Flex Ltd (NASDAQ: FLEX), an original equipment manufacturer (OEM) in the electronics sector, secured eighth place on the Fortune Southeast Asia 500 list.
In 2023, it recorded revenues of US$26.4 billion under the leadership of CEO Revathi Advaithi, who has been at the helm since February 2019. During her tenure, Flex’s share price has risen by over 320%.
Before joining Flex, Revathi Advaithi was the President and Chief Operating Officer of the electrical sector business at Eaton Corp (NYSE: ETN). She also spent six years at Honeywell, where she held various roles in manufacturing, procurement, supply chain, and sourcing.
OCBC – CEO Helen Wong
Most people are familiar with the Singapore bank OCBC (SGX: O39). As Singapore’s second-largest bank, OCBC reported total revenues of US$18.4 billion in 2023. The bank’s current CEO is Helen Wong.
Ms. Wong has held the top position since April 2021. Before becoming CEO, she was the Deputy President and Head of Global Wholesale Banking at OCBC.
Her career at OCBC began as a Management Trainee, and she became the bank’s first China Desk Manager, based in Hong Kong.
With over 40 years of banking experience, Ms. Wong is particularly renowned for her tenure as CEO of Greater China at HSBC, where she spent 27 years of her career.
Mewah International – CEO Michelle Cheo Hui Ning
Mewah International (SGX: MV4) is a Singapore-listed global food and agri-business company. It produces a wide range of essential edible oils and fats, with refineries and processing facilities in Singapore, Malaysia, and Indonesia. In 2023, Mewah reported total revenues of US$4.1 billion.
The company’s CEO, Michelle Cheo Hui Ning, joined Mewah in 2003 after working at oil giant Exxon Mobil (NYSE: XOM) from 1997 to 2003.
Ms. Cheo became CEO of Mewah in 2010, the year the company was listed on the SGX.
Mapletree Pan Asia Commercial Trust – CEO Sharon Lim
For S-REIT enthusiasts, Mapletree Pan Asia Commercial Trust (SGX: N2IU) is a well-known name in Singapore. The trust holds a portfolio of retail and commercial properties in Singapore and North Asia, including Hong Kong, China, Japan, and South Korea. In 2023, the REIT recorded revenues of US$601 million. Its CEO is Sharon Lim.
Ms. Lim joined the Mapletree group in January 2015 as the Chief Operating Officer of Mapletree Commercial Trust (MCT). She was appointed CEO of MCT in August 2015 and became CEO of MPACT following the merger of MCT with Mapletree North Asia Commercial Trust in 2022.
Before joining Mapletree, she served as CapitaMalls Asia’s Country Head for Malaysia since 2008 and was appointed CEO of CapitaMalls Malaysia Trust, which was listed on Bursa Malaysia in 2010.
Pan-United – CEO Bee Bee Ng
Pan-United Corporation (SGX: P52) is a global leader in low-carbon concrete technologies.In 2023, the company recorded revenues of US$577 million, with Bee Bee Ng serving as its CEO.
Ms. Ng has been CEO of Pan-United since March 2011. Prior to this role, she was the Executive Director of the Group from 2004 to February 2011.
Additionally, she has served as an independent non-executive director for NTUC Enterprise Co-operative Ltd and Singapore Technologies Engineering Ltd.
CapitaLand Ascott Trust – CEO Serena Teo Joo Ling
CapitaLand Ascott Trust (SGX: HMN) focuses on managing a diverse range of hospitality properties globally, including serviced apartments, hotels, and student accommodations. In 2023, the trust recorded revenues of US$555 million, with Serena Teo as its CEO.
Ms. Teo was appointed CEO of CapitaLand Ascott Trust in July 2022, after serving as Deputy CEO since November 2021.
Her previous experience includes 10 years at Ascendas Group, where she was Head of Portfolio Management for the manager of Ascendas REIT. She also worked at the Singapore Economic Development Board (EDB) and EDB Investments, focusing on the development of conductors and other electronics industries in Singapore.
Mapletree Logistics Trust – CEO Ng Kiat
Mapletree Logistics Trust (SGX: M44U) is a Pan-Asia-focused logistics REIT with properties in nine Asian markets.In 2023, the REIT reported revenues of US$532 million, and Ng Kiat served as its CEO. Ms. Ng was appointed Executive Director and CEO of Mapletree Logistics Trust in July 2012.
Before her current role, she was the Chief Investment Officer of the REIT’s sponsor, Mapletree Investments, where she managed acquisitions, development, and operations of the sponsor’s investment portfolio in the region.
With over 20 years of experience in real estate and investing, Ms. Ng has had a distinguished career. However, in May 2024, she announced that she would step down as CEO to take on new responsibilities with Mapletree Investments.
Her successor as CEO of Mapletree Logistics Trust will be Ms. Jean Kam, who will assume the role in July 2024.
Read Also: Top 10 Richest In Singapore And How They Made Their Fortunes
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