Perma-Pipe International Holdings, Inc. Announces New Contract Award in Qatar
By Business Wire Published on May 28, 2025, 10:10 IST
Spring, Texas, United States:
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced that it has received its first project award to be executed in Qatar since the announcement of the intent to mobilize there.
The project will be for USD $2.4 million and will utilize Perma-Pipe's fabrication capabilities and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.
Adham Sharkawy, Senior Vice President of Perma-Pipe's MENA region, remarked, 'In response to this important award, we will begin executing the project from a temporary facility in Doha, ensuring timely delivery and uninterrupted service to our client. Simultaneously, we are advancing the construction of our permanent facility in Qatar, which will serve as a long-term base for our regional operations. We are deeply grateful to our customers for their continued trust and confidence in Perma-Pipe's capabilities.'
Saleh Sagr, President, commented, 'Expanding in Doha has been an important goal for Perma-Pipe and is a key step in expanding our presence in the MENA region. Our plan shows our strong commitment to the Qatari market and supports our goal for steady growth and local investment. The new facility will be an important base for our work in Qatar and will help us serve markets in Southeast Asia.'
David Mansfield, CEO, stated, 'This award signifies a major milestone for Perma-Pipe and aligns with our strategic expansion into Qatar. This project not only demonstrates the strength of our solutions but also plays a vital role in solidifying our position in the market. We are confident that this achievement will fuel our continued growth and further enhance our reputation as a trusted leader in the industry.'
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries.
Forward-Looking Statements
Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ('COVID-19') on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company's ability to repay its debt and renew expiring international credit facilities; (v) the Company's ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company's ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company's products; (ix) decreases in government spending on projects using the Company's products, and challenges to the Company's non-government customers' liquidity and access to capital funds; (x) the Company's ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company's ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company's ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company's backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company's ability to attract and retain senior management and key personnel; (xviii) the Company's ability to achieve the expected benefits of its growth initiatives; (xix) the Company's ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company's percentage-of-completion revenue recognition; (xxii) the Company's failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company's information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
View source version on businesswire.com: https://www.businesswire.com/news/home/20250527587388/en/
Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Business Wire is an American company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Middle East Prepaid Card and Digital Wallet Market Growth Dynamics Databook 2025: Saudi Arabia's Unbanked Leverage Prepaid Cards for Financial Inclusion
Explore pivotal trends in the Middle East's prepaid card and digital wallet market, anticipated to reach $63.3B by 2029 with an 9.5% annual growth rate. Key drivers include digital payment adoption, financial inclusion efforts, and emerging opportunities in countries like UAE, Saudi Arabia, Qatar, and Oman. Middle Eastern Prepaid Card and Digital Wallet Market Dublin, June 12, 2025 (GLOBE NEWSWIRE) -- The "Middle East Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to Middle East's prepaid card and digital wallet market is poised for remarkable growth, projected to escalate by 11.3% annually, reaching USD 44 billion by 2025. This sector experienced a strong development phase from 2020-2024, boasting a CAGR of 15.8%. The robust expansion trajectory is set to continue with a CAGR of 9.5% forecasted between 2025-2029, further propelling the market to approximately USD 63.3 billion by 2029. Key Trends and Drivers in the Middle East Prepaid Cards SectorThe prepaid card market in the Middle East is rapidly transforming, driven by digital payment advancements and financial inclusion efforts. Countries like the UAE and Qatar are integrating prepaid cards with digital wallets, reflecting a broader push towards cashless economies. Meanwhile, Saudi Arabia and Oman are leveraging prepaid solutions to address financial accessibility among unbanked populations, providing a secure and efficient alternative to traditional the next few years, the prepaid card sector is expected to expand, with government policies and financial institutions playing a crucial role in shaping market dynamics. Kuwait's retail industry and Oman's corporate sector demonstrate increased reliance on prepaid cards, indicating sector-specific growth opportunities. As financial ecosystems modernize, prepaid cards will remain a central tool for promoting financial inclusion and digital payment adoption across the Middle Initiatives Driving Digital Payment Adoption in the United Arab Emirates The UAE is experiencing a significant increase in the adoption of prepaid payment instruments, supported by government efforts to digitize the economy. This includes initiatives to promote cashless transactions and enhance financial inclusion. The government's push towards a digital economy is a primary driver of this trend. By encouraging digital payment solutions, the UAE aims to improve transaction efficiency and reduce the reliance on cash. The trend is expected to continue, with increased collaboration between the government and financial institutions to introduce innovative prepaid card solutions. This will likely lead to higher adoption rates among consumers and businesses, further embedding prepaid cards into the UAE's payment ecosystem. Rising Adoption of Prepaid Cards Among Unbanked Populations in Saudi Arabia In Saudi Arabia, prepaid cards are being used increasingly by individuals without traditional bank accounts. These cards provide a means for unbanked populations to engage in digital transactions. This trend is driven by the need for accessible financial services among unbanked individuals. Prepaid cards offer a practical solution for secure transactions without a traditional bank account. The adoption of prepaid cards among unbanked populations is expected to grow, contributing to greater financial inclusion in Saudi Arabia. Financial institutions may develop more tailored prepaid card products to meet the specific needs of this demographic. Integration of Prepaid Cards with Digital Wallets in Qatar Qatar is witnessing the integration of prepaid cards with digital wallet platforms, allowing users to manage funds and make payments through their smartphones. The increasing penetration of smartphones and the demand for convenient payment solutions drive this trend. Consumers prefer the ease of managing finances digitally, which prepaid cards linked to mobile wallets facilitate. This integration is expected to deepen, with more financial institutions partnering with technology providers to offer seamless prepaid card and digital wallet solutions. This will likely enhance the user experience and promote cashless transactions in Qatar. Growth of Prepaid Gift Cards in the Retail Sector in Kuwait Kuwait's retail sector is experiencing an increase in the issuance and use of prepaid gift cards, particularly during festive seasons and special occasions. Retailers are adopting prepaid gift cards to boost sales and attract customers. Consumers appreciate gift cards' flexibility, making them a popular choice for gifting. The trend is expected to intensify, with more retailers launching customized prepaid gift card programs. This will likely increase consumer engagement and loyalty in Kuwait's retail market. Corporate Adoption of Prepaid Payroll Cards in Oman In Oman, companies are increasingly utilizing prepaid payroll cards to disburse salaries to employees, especially those without bank accounts. The need for efficient and secure salary disbursement methods drives this trend. Prepaid payroll cards offer a practical solution for employers to pay unbanked employees, ensuring timely and transparent transactions. Prepaid payroll cards are expected to expand, with more companies adopting this method to streamline payroll processes. This will contribute to financial inclusion and improve the financial well-being of employees in Oman. Competitive Landscape of the Middle East Prepaid Card MarketThe Middle East's prepaid card market is evolving rapidly, fueled by digital transformation, financial inclusion initiatives, and the growing demand for cashless payment solutions. Established financial institutions and fintech startups actively expand their offerings, leveraging strategic partnerships to enhance market regulatory frameworks continue to adapt to the changing financial landscape, companies must balance compliance with innovation to remain competitive. The next few years will be critical in determining which players successfully capitalize on emerging opportunities, shaping the region's future of prepaid payment Market Dynamics The rising adoption of prepaid cards in e-commerce, transportation, and corporate payroll solutions supports the market's growth. With many unbanked populations in the region, prepaid cards have become an essential financial tool, offering secure and accessible payment alternatives. Additionally, fintech companies are driving innovation, introducing digital wallets linked to prepaid cards, further expanding the market's reach. Key Players and Market Share The prepaid card market in the Middle East is highly competitive, with a mix of global financial institutions and emerging fintech players. Leading companies such as Visa, Mastercard, American Express, and Carrefour SA dominate the market, offering a diverse range of prepaid card solutions for personal, corporate, and travel-related transactions. These companies have established strong distribution networks, leveraging partnerships with banks and retail chains. In addition to traditional financial institutions, fintech firms are entering the market with innovative prepaid card solutions tailored to regional needs. Companies like YouGotaGift, a digital gift card provider, have expanded their presence through partnerships with major retailers such as Carrefour. Meanwhile, regional fintech startups in Saudi Arabia and the UAE are launching prepaid card solutions integrated with mobile wallets, catering to the growing demand for digital financial services. Recent Launches and Partnerships Strategic collaborations and partnerships are crucial in the evolution of the prepaid card market in the Middle East. One notable partnership is YouGotaGift's collaboration with Carrefour, which has expanded the availability of digital prepaid gift cards, addressing the rising demand for digital gifting solutions. Additionally, banks and fintech firms are forming alliances to integrate prepaid card services with digital payment platforms, enhancing consumer convenience. While direct mergers and acquisitions in the prepaid card segment remain limited, broader financial sector consolidations impact the market. Large financial institutions are acquiring smaller fintech firms to strengthen their prepaid card portfolios and expand their customer base. This trend is expected to intensify as traditional banks seek to enhance their digital offerings by leveraging the technological capabilities of fintech startups. Anticipated Market Evolution (Next 2-4 Years) The prepaid card market in the Middle East is expected to become increasingly competitive over the next few years. The entry of new fintech firms and the expansion of services by existing players will drive further innovation. Integrating prepaid cards with digital wallets and mobile payment solutions will likely become a key differentiator, with companies focusing on enhancing customer convenience and security. Regulatory developments will also play a crucial role in shaping the market. As governments implement stricter financial regulations, prepaid card providers must navigate compliance challenges while maintaining product innovation. Additionally, the push for financial inclusion will create opportunities for companies to introduce prepaid solutions tailored to unbanked and underbanked populations, further driving market growth. Regulatory Changes Regulatory bodies in the Middle East have introduced new measures to enhance consumer protection and improve financial transparency in the prepaid card industry. Governments across the region are focusing on strengthening anti-money laundering (AML) and know-your-customer (KYC) compliance frameworks to ensure secure prepaid card transactions. These regulations aim to reduce fraud risks and increase trust in digital payment solutions. Central banks in countries like Saudi Arabia and the UAE have also introduced guidelines to facilitate the seamless integration of prepaid cards with mobile payment systems. These changes enhance the financial ecosystem, providing consumers with more secure and convenient digital transaction options. As regulatory frameworks continue to evolve, prepaid card issuers must ensure compliance while maintaining a seamless user experience. This report provides a detailed data-centric analysis of the prepaid card and digital wallet industry in Middle East, covering market opportunities and analysis across a range of prepaid card and digital wallet domains. With over 80+ KPIs at the country level, this report provides a comprehensive understanding of prepaid card and digital wallet market dynamics, market size and forecast, and market share Attributes: Report Attribute Details No. of Pages 636 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $44 Billion Forecasted Market Value (USD) by 2029 $63.3 Billion Compound Annual Growth Rate 9.5% Regions Covered Middle East Report ScopeThis report offers an in-depth, data-driven examination of prepaid payment instruments, focusing on expenditures via prepaid cards and digital wallets within both retail and corporate consumer sectors. It also presents an overview of global consumer behavior and retail spending patterns. The report includes a detailed breakdown of key market segments for each country. Prepaid Payment Instrument Market Size and Forecast Digital Wallet Market Size and Forecast Digital Wallet Market Size and Forecast by Key Segments Digital Wallet Retail Spend Dynamics Prepaid Card Industry Market Attractiveness Open Loop Prepaid Card Future Growth Dynamics Closed Loop Prepaid Card Future Growth Dynamics Prepaid Card Consumer Usage Trends Prepaid Card Retail Spend Dynamics General Purpose Prepaid Card Market Size and Forecast Gift Card Market Size and Forecast Gift Card Market Size and Forecast by Consumer Segments Gift Card Market Share Analysis by Retail Categories Entertainment and Gaming Prepaid Card Market Size and Forecast Teen and Campus Prepaid Card Market Size and Forecast Business and Administrative Expense Prepaid Card Market Size and Forecast Payroll Prepaid Card Market Size and Forecast Meal Prepaid Card Market Size and Forecast Travel Forex Prepaid Card Market Size and Forecast Transit and Tolls Prepaid Card Market Size and Forecast Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Fuel Prepaid Cards Market Size and Forecast Utilities, and Other Prepaid Cards Market Size and Forecast Virtual Prepaid Card Industry Market Attractiveness Virtual Prepaid Card Market Size by Key Categories For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Middle Eastern Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Yahoo
11 minutes ago
- Yahoo
Noah Holdings Limited Announces Results of Annual General Meeting and Payment of Final Dividend and Special Dividend
SHANGHAI, June 12, 2025 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors, today announced that its annual general meeting (the "AGM") was held in Hong Kong on June 12, 2025 and that all the proposed resolutions submitted for shareholders' approval as set forth in the notice of the AGM dated April 25, 2025 were duly passed at the AGM. The Company also announced that it will distribute (i) a final dividend of RMB275.0 million (approximately US$38.3 million based on the latest exchange rates available as of the date of this announcement) in aggregate (with a distribution ratio of RMB0.831 (equivalent to approximately US$0.116, or approximately HK$0.909 based on the latest exchange rates available as of the date of this announcement) per share (tax inclusive)) in respect of the year ended December 31, 2024; and (ii) a special dividend of RMB275.0 million (approximately US$38.3 million based on the latest exchange rates available as of the date of this announcement) in aggregate (with a distribution ratio of RMB0.831 (equivalent to approximately US$0.116, or approximately HK$0.909 based on the latest exchange rates available as of the date of this announcement) per share (tax inclusive)), to shareholders whose names appear on the register of members of the Company as of the close of business on July 3, 2025 (the "Dividend Record Date"). The distribution ratio per share is subject to adjustment to the number of shares of the Company entitled to dividend distribution as of the Dividend Record Date and the equivalent U.S. dollars amount and Hong Kong dollars amount are also subject to exchange rate adjustment. The Company will make further announcement in respect of the final rate of final payment in U.S. dollars (for ADS holders and for holders of ordinary shares whose shares registered on the Company's principal share register in the Cayman Islands) and in Hong Kong dollars (for registered holders of the ordinary shares whose shares registered on the Company's Hong Kong share register in Hong Kong) on or immediately after the Dividend Record Date and in accordance with the Company's memorandum and articles of association and applicable laws and regulations. ABOUT NOAH HOLDINGS LIMITED Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah's American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol "NOAH," and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code "6686." One ADS represents five ordinary shares, par value $0.00005 per share. In the first quarter of 2025, Noah distributed RMB16.1 billion (US$2.2 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB149.3 billion (US$20.6 billion) as of March 31, 2025. Noah's domestic and overseas wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah's network covers major cities in mainland China, as well as Hong Kong (China), New York, Silicon Valley, Singapore, and Los Angeles. The Company's wealth management business had 463,161 registered clients as of March 31, 2025. Through its domestic and overseas asset management business operated by Gopher Asset Management and Olive Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other businesses. For more information, please visit Noah at SAFE HARBOR STATEMENT This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah's cash and cash equivalents and liquidity risk. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah's investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law. View original content: SOURCE Noah Holdings Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
Lindsay Corporation Announces Third Quarter Fiscal 2025 Earnings Conference Call and Webcast
OMAHA, Neb., June 12, 2025--(BUSINESS WIRE)--Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced it plans to release financial results for its fiscal 2025 third quarter ended May 31, 2025 before the market opens on Thursday, June 26, 2025. Management, including Randy Wood, President and Chief Executive Officer, and Brian Ketcham, Senior Vice President and Chief Financial Officer, will host a conference call to discuss the results the same day at 11:00 a.m. ET. Interested investors may pre-register for the teleconference at the following link: Registered participants will receive an email with a calendar reminder, dial-in number and PIN that allows immediate access to the call on June 26, 2025. Participants who do not wish to pre-register may dial (833) 535-2202 (U.S.), (412) 902-6745 (International), or (866) 605-3852 (Canada) and request the Lindsay Corporation call. Additionally, the conference call will be simulcast live online and can be accessed via the investor relations section of the Company's website, Replays of the conference call will remain available on the Company's website until the next quarterly earnings release. The Company will have a slide presentation available to supplement management's formal presentation, which will also be accessible via the Company's website. About Lindsay CorporationLindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit View source version on Contacts For further information, contact: LINDSAY CORPORATION: Alicia PfeiferVice President Investor Relations & Investor Relations Contact: Joe Caminiti or Stephen Poe312-445-2870LNN@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
