KUALA LUMPUR (July 21): Loss-making Harvest Court Industries Bhd is proposing to change its name to “Anzo Holdings Bhd”.

In a filing with Bursa Malaysia today, Harvest Court said the new name has been approved and reserved by the Companies Commission of Malaysia (CCM) on July 6, 2015.

The group said the proposed change of name is subject to the approval of the shareholders of the company at the general meeting to be convened at a date to be announced later.

“The proposed change of name, if approved by the shareholders, will be effective from the date of issuance of the Certificate of Incorporation on Change of Name of Company by the CCM,” said Harvest Court.

The company, which produces quality timber doors, made headlines in the second half of last year and early this year after it was embroiled in a shareholders’ tussle for control of the company in a falling out between its then chief executive officer (CEO) cum managing director (MD) Datuk Raymond Chan Boon Siew and major shareholder Datuk Eddie Chai Woon Chet.

The episode culminated in the resignation of Chan from his roles, while Chai was appointed as MD of Harvest Court on May 22 this year.

More recently, the company also appointed MCA central commitee member Datuk Seri Ti Lian Ker as independent and non-executive director.

Harvest Court’s (fundamental: 1.2; valuation: 0.3) shares, which shot to as high as RM1.395 in less than two months on Nov 11, 2011, have since slumped to just 20 sen per share today, up 0.5 sen or 2.56% from yesterday’s close, for a market capitalisation of RM54.76 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)