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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OCI Financial results for the Nine Months ended 30 Sept 2007  English | Arabic

OCI Financial results (unaudited) for H1 2007  English | Arabic

OCI Financial results (unaudited) for Q1 2007  English | Arabic

Oman Cables Sales turnover jumps - OCI is aware of its responsibility towards the society at large and the expectations of national community, in terms of wealth creation leading to generation of employment........Click Here

Oman Cables Industry (SAOG) conducted its 3rd draw for the Oman Cables Industry (SAOG)’s Building wire promotion campaign at Rusayl office. 50 lucky winners won Gold Coins worth 10gms each...
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Oman Cables Industry (SAOG) conducted its second draw for the Oman Cables Industry (SAOG)’s Building wire promotion campaign on 14.01.06. 50 lucky winners won Gold Coins worth 10gms each. This is the first time that OCI has promoted such a scheme.
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Oman Cables Industry (SAOG) conducted its first draw for the Oman Cables Industry (SAOG)’s Building wire promotion campaign on 31.12.05. 50 lucky winners won Gold Coins worth 10gms each....
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OCI among top 8 companies of Oman in 2005
Oman Economic Review (OER), Oman's leading business magazine, has ranked OCI on 8th largest company in Oman. OCI has improved its rank from 10th to 8th.

Oman Cables wins Gold Award in the First Oman Web Design Competition
Oman Cable Industry is indeed proud to inform you that the company received the Gold Award in the First Oman Web Design Competition in 'Industrial category'. The award was received on 30th December '2005 in a glittering function held at the Al Bustan Palace Hotel, Muscat.

This is not the first time that Oman Cable's pursuit for excellence has come to limelight. Company was awarded His Majesty's Trophies for the Best Industry during 1991, 1992, 1996 & 1997 and Certificate of Honour for excellence in years 1993, 1994, 1995,1998, 1999, 2000, 2001 & 2002. Oman Cables continuous search for excellence was again rewarded recently with His Majesty's Trophy 2005 for the best Industry in a similar high profile function held on 5th December 2005 at Al-Bustan Palace Hotel. The company has also won the coveted 'Flame of Excellence' award for 2004 from Oman Economic Review for relentless pursuit of Business Excellence. The award is a testimony to the techno-managerial capabilities of the company

We are pleased to share with you this unique achievement of winning the Oman Web Design Gold Award. "There is excellence in every thing Oman Cables does"
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Oman Cables wins His Majesty's Trophy for the Best Industry in 2005
OCI's core competence is the relentless pursuit of business excellence. OCI has won accolades every year since 1991. It was awarded His Majesty's Trophies for the Best Industry in 1991, 1992 & 1996 and Certificate of Honour for Excellence in 1993, 1994, 1995 and 1997. Oman Cables' continuous search for excellence was rewarded again recently. OCI received the prestigious His Majesty's Cup for 2005 in a glittering function on 5 December 2005, which was presided over by His Highness Sayyid Haitham bin Tariq Al Said, Minister of Heritage and Culture, at the Al Bustan Palace Hotel. Mr. Mustafa bin Mukhtar Ali Al Lawati, Chairman, Oman Cables received the award on behalf of the company.
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4HM-Trophy - 2005

OCI participates in Electrix 2005
OCI is participating in Electrix 2005, the 17th Australian International Electronics Industry Exhibition Sydney Showground, Sydney Olympic Park from 13-15 Sep 2005. We welcome all our esteemed customers & well-wishers at our stall no. F66 Click Here to view our stall.

OCI unveils million-dollar expansion project
Oman Cables Industry SAOG (OCI) has just embarked on the biggest-ever infrastructure expansion project in the company's history. The multi-million dollar project will establish a new cable manufacturing plant in a 80,000-square metres plot in Rusayl Industrial Estate that is scheduled to go on stream by early 2006. Click Here.

OCI wins 'Flame of Excellence' Award
OCI was awarded the prestigious 'Flame of Excellence' award for the year 2004 at a glittering ceremony on 14 May 2005. The 'Flame of Excellence' is the topmost private sector award in the Sultanate & OCI bagged it against stiff competition from leading companies. Click here to read more.

OCI holds Finance Forum
OCI conducted a Finance Forum on 11 April 2005 which was attended by representatives from banks, financial institutions, government agencies and the press. OCI's performance during the year as well as for the first quarter of 2005 was presented and the participants was taken for a factory visit.

OCI holds Annual General Meeting
OCI held its 16th Annual General Meeting on 28 March 2005. The Board of Directors proposed a dividend of 20% for the year 2004 which was approved by the shareholders in the meeting.

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Oman Cables eyes global presence - Sultanate's major manufacturing company's sales soar 62% in 2004
From being a supplier of electric power cables to the GCC region, OCI is now eyeing global markets as a part of its expansion plans. The company's profits soared during 2004, with its turnover touching RO 36 million, a rise of 62 percent over the previous year. Buoyed by a prestigious MV cable order from the UK, OCI is actively promoting its products at international trade fairs at Hanover, Germany and Australia.

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OCI honours employees at get-together
OCI organised a get-together for its employees at the Crowne Plaza Hotel on 7 March 2005. Awards were given to the Best Manager, Best Employee and Best Performer of 2004. Meritorious employees with long service records along with the Best Department of the year 2004 were felicitated.

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M V Cable Function
OCI held an M V Cable launch function on 25 May 2004 with customers from various countries and also hosted a seminar on M V Cable process and testing by Mr. Nico Van Schaik from KEMA, The Netherlands.