Panax changed into Raya Group

By Nellawati

ASX-listed Panax Geothermal Limited reported on Monday that it has changed its name into Raya Group Limited, following a shareholders? meeting.

The change in the name is in line with the company?s stated intentions of seeking to identify new and complimentary projects to assist in expanding and diversifying its project portfolio and pipeline, including non-geothermal related assets, it said in a filing.

The filing added that the company has received some interest from two Asian Groups in relation to its portfolio of advanced geothermal development opportunities in Indonesia. One of the two Asian groups has completed significant due diligence on the portfolio of projects, at their own expense.

It continues to monitor the status and continuing process of PPA approval for the projects, and specifically for the Sokoria and Dairi Prima Geothermal Projects.

Editing by Dadan Wijaksana