Malaysia's most battered stocks become bargains for top fund

Kuala Lumpur

AFTER correctly predicting this year's slump in Malaysia's technology shares, Danny Wong Teck Meng is loading up on beaten-down energy stocks.

The chief executive officer of Areca Capital Sdn has been buying oil and gas companies in the past two months, betting that energy prices will rebound and valuations are pricing in too much pessimism.

"Oil and gas is one of my biggest bets now," said Mr Wong, who declined to name specific companies and whose Areca EquityTrust Fund has b…