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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English | Arabic

English | Arabic

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)

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:

• Sales of 2009 were RO 155.6 million compared to RO 304.4 million in 2008

• 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.

• Earning per share increased to RO 0.074 in 2009 compared to RO 0.068 in 2008

• Net asset per share increased to RO 0.450 in 2009 compared to RO 0.351 in 2008

• 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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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.

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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