There are many ways to invest. Although I personally tend to focus on the quality of a business rather than its valuation when I invest, I also know of many successful investors who invest in deeply undervalued or out-of-favour stocks, regardless of the quality of the business. And if you happen to be such an investor, you would be interested in beaten-down companies with a potential for a turnaround. In Bursa Malaysia, there is hardly a more out-of-favour company right now than Felda Global Ventures Holdings Berhad (FGV) (Bursa: 5222). Hailed as one of the largest IPOs on Bursa Malaysia in 2012, FGV is now one of the worst performing government-linked companies in Malaysia. Its net profit has dropped more than 96% from 2012 to 2016, its leverage ratio has been edging up, and it is now tangled in a massive corporate scandal. Does FGV have the ability to turn ......