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OCI participated in the OEWTEX Exhibition held at the
Oman Exhibition Centre in July 2010 |

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Oman Cables Industry recently took part in the WEPower
Water, Electricity & Power Generation Conference &
Exhibition in Saudi Arabia.
The Exhibition was inaugurated by Dy. Minister of Water
& Electricity along with top officials of SEC and other
Government Officials. |

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OCI participated in the Hanover Messe Exhibition held in
Hanover, Germany in April 2010. |

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OCI's deputed its technical team to visit the Wire &
Tube exhibition
that was held in Dusseldorf, Germany in April 2010.
The objective was to experience the new technology
available in Global Cable Industry in order to enhance
OCI's manufacturing capabilities.
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Oman Cables Industry and Public Establishment for
Industrial Estates have signed a Memorandum of
Understanding on 8-March-2010 to support Omani
Manufacturing Group as an exclusive sponsorship for
series of seminars of OMG.
The MOU was signed by Mr. Hans Meiring, CEO of Oman
Cables and Mr. Basim Ali Al Nassari, Acting Director
General for Marketing & Media of PEIE.
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Oman Cables Industry (SAOG) took part in the 3 day
Oil and Gas Exhibition recently held at the Oman
International Exhibition Centre, 11-13th April 2010.
This is the seventh edition of OGWA and it featured more
than 30 nations worldwide, thus registering the biggest
ever international participation in the biennial event.
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Oman Cables recently attended the Kuwait Electricity
Exhibition and Conference in March 2010, at the Radisson
Blue Hotel in Kuwait. 13 Exhibitors from more than 3
countries participated in this Exhibition. |

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OCI recently participated in the Middle East Electricity
Exhibition in Dubai held 9-11 February 2010. This is an
annual Exhibition and attracts visitors from all over
the GCC region. |

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Oman Cables Industries (SAOG) supports Oman SCOPE
program
Oman Cables Industry, one of the premier
manufacturing industries of Oman has supported the
International Federation of Medical Students’
Associations (IFMSA) through The Standing Committee On
Professional Exchange (SCOPE) of Oman (Sultan Qaboos
University) with an aim to support their mission of
promoting international understanding and co-operation
amongst medical students and all medical professionals
through international exchange of students.
Mr Hans Meiring, CEO of Oman Cables handing over the
Cheque to Mr Kumait Al Lawati of SQU. |

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Oman Cables wins Bronze Award - Best Website Design
Industry Category Oman Web Awards. |

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Mr CJ (Hans)
Meiring named as CEO of Oman Cables Industry (SAOG)
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Oman Cables
Industry (SAOG) introduces Five Day Week
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Announcement
19-January-2010
Management
Restructuring in Oman Cables Industry (SAOG)
During the last few years, Oman Cables Industry (OCI)
has expanded its operations and is positioned to enter new
international markets. OCI has moved from its traditional
operations to enhance its growth and started joint
ventures investment locally and internationally.
To boost the development initiatives the Board has revised
the management structure of the company as follows:
The Board is pleased to announce that Mr. CJ (Hans)
Meiring has been elevated to the position of Chief
Executive Officer. In his position he will report to Mr.
Hussain Salman Al Lawati, Vice Chairman & Managing
Director who will continue to steer the Group and will
represent the Board of Oman Cables Industry (SAOG).
This announcement is effective from date of issue.
For and on behalf of the Board of Directors of
Oman Cables Industry (SAOG) |
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The Board of
Directors approved Audited Financial Statements for 2009
in the meeting held on 18 January 2010
In the Board Meeting held on 18 January 2010, Oman Cables
Industry (SAOG) Board of Directors approved the financial
statements for 2009 of the Parent Company and the Group.
Highlights of Financial Statements for the group are as
follows:
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Sales of 2009 were RO
155.6 million compared to RO 304.4 million in 2008
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Net Profit after tax
was RO 6.6 million compared to RO 6.1 in 2008. The Net
profit margin increased by 4.26% in 2009 compared to
2.01% in 2008.
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Earning per share
increased to RO 0.074 in 2009 compared to RO 0.068 in
2008
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Net asset per share
increased to RO 0.450 in 2009 compared to RO 0.351 in
2008
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Total borrowings
reduced by RO 40.4 million during 2009
The Board proposed 30%
cash dividend, to be approved by the shareholders at the
Annual General Meeting.
Explanatory statement
The current economic situation has resulted in
consolidation in the industry and the sectors we serve.
Customers across all regions have been adversely affected
and have moved quickly to re-prioritize and re-focus on
short term survival. This has resulted in much lower
product demand than witnessed in prior years.
Despite the adverse scenario Oman Cables Industry (SAOG)
the parent company has performed well albeit at lower
turnover and achieved Sales revenues of RO 155.6 million
and PAT of RO 6.7 million for the year 2009.
Though the sales revenues fell by 49% compared to the
previous year, the actual volumes in metal tons was
reduced by 24%.
The net profit for the Group was RO 6.6 million after the
consolidation of the Accounts of Oman Aluminium Processing
Industries LLC (OAPIL) which is at pre-operative stage.
The profitability for the year 2009 has increased to 4.26%
of sales compared to 2.01% achieved in 2008. The increased
profitability is due to management’s initiatives towards
cost optimization and managing overheads in line with
reduced volumes. During the year under review, the company
has reduced its total borrowings by RO 40.4 million thus
made significant savings on interest and financing cost.
Review of Operations
The demand in the domestic market remained positive due to
the Government’s long term investment in infrastructure to
ensure sustainability of the Omani economy.
The demand in the regional market has seen some
consolidation and is now more focused on megatrends with
emphasis on the development of Power, Telecom, Water and
Transportation sectors.
Sales in the international markets were impacted as a
result of the slowdown on major projects and general
decline of business on a Global basis.
The year 2009 will be remembered by the company as it
successfully obtained product certification from British
Approvals Service for Cables (BASEC), United Kingdom. This
will further enhance OCI’s market leadership and will give
the Group access to new markets on a much broader Global
customer base.
Future outlook
Our company’s robust corporate strategy continues to build
a strong foundation and drive the Group’s growth going
forward to capitalize on opportunities that will come from
emerging markets as the Global Economic Scenario improves.
OCI’s domestic market continues to be our company’s major
strength and Oman Cables is a preferred choice for many
prestigious customers in Oman. Further plans have been
initiated to expand its product offering in the local
market.
The growth in demand in the GCC and MENA regions will be
driven by some of key projects announced recently viz.,
the inter-link of the Electricity Grid among the GCC
countries, Rail Transportation, Metros, and various other
projects will continuously create demand for our products.
During the year, the company has added further dimensions
to its international markets. OCI is now in a position to
enter the selected new markets where it demonstrated its
capabilities to the prospective clients.
OCI’s Joint Venture Project:
OCI’s ambitious project Oman Aluminium Processing
Industries LLC (OAPIL), in collaboration with Takamul
Investment Company (Oman Oil) is at advanced stage of
completion and scheduled for commercial production in
early 2010. OCI’s management with the cooperation of
Takamul management has demonstrated its vision and
continued commitment to execute the project as per the
original feasibility study despite the Global economic
turbulence. |
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Trade Finance
Seminar held at NBO training centre on 15th August 2009 |
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EHC MOU with OCI will ensure T&D network in Oman utilizes
global technologies - 18th August 2009
Muscat: A Memorandum of Understanding was signed
yesterday between Electricity Holding Company (EHC) and
Oman Cable Industries (OCI) to cooperate in establishing
the basis on which to enter into term contracts for the
supply of products from the electrical supply industry to
the EHC Group companies.
Since the Renaissance in 1970, the Sultanate of Oman has
witnessed rapid and continued growth in its economy. The
Government took various initiatives to facilitate Omani
and international business communities’ participation in
the Sultanate’s growth. One of these was the restructuring
of the electricity sector and the creation of new
government owned entities to undertake the operation and
development of the region’s electricity infrastructure.
The Electricity Holding Company (EHC) and its subsidiary
companies were established to ensure there is sufficient
supply of electricity to meet the needs of citizens and
customers in Oman now and into the future.
OCI is a company that has demonstrated its capabilities in
the local and international markets, including South
America, Australia, Europe, Asia Pacific, GCC and MENA
regions where a reputable customer base has been
established. Today OCI is a key contributor to the
national non-oil Omani origin exports.
Mr. Karl Matacz, CEO of EHC, said that the MOU will
promote technology transfer from suppliers to ensure that
the transmission and distribution network in Oman utilizes
leading global technologies. Under the MOU, both parties
will cooperate in the design of the supply framework that
has cost benefits to electricity companies, delivers
uninterrupted supply of products, enables better inventory
management, fosters the exchange of technical know-how,
thereby creating a sustainable long-term development
programme in the Sultanate of Oman.
Mr. Karl also said that OCI, with its global presence, has
the capability in both manufacturing technology and
logistic capabilities, to meet the needs of the
electricity industry of the country.
Mr. Hussain Salman Al Lawati, Vice Chairman and Managing
Director of Oman Cables said that with great support from
EHC and its subsidiaries, OCI was able to become a true
global player. He added, OCI constantly endeavors to
ensure their manufacturing capabilities have an industry
leading edge, and also ensures that Oman, as a country,
has the best technology available.
He also said that such synergies will create opportunities
for nurturing local talent from both the institutions and
expose them to global best practices, and benefit from
OCI’s global strategic alliances. |
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OCI sponsored the Oman David Cup tennis team for their tie
against Hong Kong held from
10th - 12th July 2009
Oman Cables Industry (SAOG) sponsored the Oman David
Cup tennis team for their tie against Hong Kong held from
July 10 to 12 in Hong Kong. A formal document was signed
between Hans Meiring, Chief Operating Officer and Mohammed
Al Balushi, Secretary-General of Oman Tennis Association
(OTA).
Mr Mohammed Al Balushi said the support of Oman Cables
Industry shows their commitment as socially-conscious
company to work for development of sports in Oman.Oman and
Kuwait are the only countries to play at this level in
Davis Cup in Arab countries from Asia.
On behalf of Management and employees of OCI, Mr Meiring
conveyed best wishes to the team for the tie.
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OCI's Newsletter - March 09 |
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