Olive Tree Estates (SGX:1H2) secured an approval from shareholder via a special resolution to change the company's name to Evologic International, according to a Friday filing with the Singapore Exchange.
The special resolution, which was passed at the real estate developer's extraordinary general meeting, passed unopposed.
Fortescue's (ASX:FMG) battery-making unit Fortescue Zero is facing a lawsuit from its US partner for allegedly sending them defective batteries, according to a Monday report by the Australian Financial Review, citing court filings.The report said that Fortescue is fighting the allegations in the Florida Middle District Court against the Orlando-based marine propulsion company Evoa.Evoa has claimed in its lawsuit that Fortescue did not send a prototype in time in February 2024 and instead sent "dummy packs," which were "battery cases without technology," the report said, citing the court filings.Later in April 2024, five demonstrator packs sent by Fortescue "did not meet the specifications" that Fortescue had represented, Evoa alleges in the lawsuit.According to Evoa's claims, Fortescue continued to promise delivery of the equipment until February 2025, before saying that Evoa should stop using the battery packs, citing a new risk assessment, the report added.The report said that Evoa has alleged that Fortescue Zero Chief Executive Ellie Coates wrote to Evoa in March 2025 to cancel the whole program and wrote again in April 2025, demanding payment of $1.5 million, despite allegedly not delivering the equipment.Evoa has said that it should not have to pay the amount, and Fortescue should repay about $1.3 million that Evoa deposited in May 2024, the report added.AFR said that a Fortescue spokesman said on Monday that Fortescue "strongly rejects all allegations being made."Fortescue did not immediately respond to' request for comment.The company's shares rose 1% in recent Monday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Repower Energy Development (PSE:REDC) is leading a consortium to acquire 100% of Taft Hydroenergy in a 3.93 billion Philippine pesos deal, which includes a 1.1 billion pesos loan component.Taft Hydroenergy owns a 15.93-megawatt hydropower facility in the Visayas, Philippines, according to a Monday Philippines Exchange filing.Repower Energy Development's portion of the acquisition covers 520 million shares worth 1.57 billion pesos, alongside partners Tokai, and South East Energy.The deal completion is subject to regulatory approvals and closing conditions, it said.
Mahindra & Mahindra (NSE:M&M, BOM:500520) has teamed up with Manulife Holdings (Bermuda) to set up Mahindra Manulife Insurance, a 50:50 joint venture, to undertake life insurance business, according to an Indian bourse filing on Sunday.Shares of Mahindra & Mahindra fell nearly 1% in Monday's trade.The JV has an authorized and paid-up capital of 10 million Indian rupees, divided into 1 million equity shares, the filing said.Mahindra & Mahindra and Manulife Holdings (Bermuda) have each subscribed to 50,000 equity shares for an investment of 5 million rupees each, it added.