KUALA LUMPUR (Aug 14): Key Alliance Group Bhd has redesignated its executive director Roy Ho Yew Kee, 42, as its new managing director, with effect from today.

Last Thursday, Datuk Goh Kian Seng had resigned from the managing director role in Key Alliance, due to other personal commitments.

The 55-year old Goh has been the managing director of Key Alliance, which is involved in the privision of ICT services and the distribution of kitchen appliances, since Aug 8, 2003. He is also its largest shareholder, with a 5.73% stake as at June 19.

Prior to his appointment, Ho, as ED, was responsible for corporate strategy, corporate advisory and structuring within the group’s subsidiaries, according to the group's annual report.

With a bachelor of commerce from the Griffith University in Brisbane, Australia, Ho has over 20 years of experience in the financial services industry, according to Key Alliance's Bursa Malaysia filing today.

In particular, he is experienced in deal origination, sales trading, corporate restructuring and corporate finance roles.

Key Alliance shares closed up 0.5 sen or 20% today to 3 sen, for a market capitalisation of RM51 million.