During the pandemic, the challenges faced by us humans was unprecedented but the biggest heartbreak was when losing someone during this period and not being able to mourn using any of the available methods.
With all the technological advancement there weren’t any solutions that could solve bereavement since not many organisations looked at this as important or as solving a human issue. But the pandemic clearly showed otherwise and the need to digitalise this aspect of life is now just as crucial.
Life Eternity Group Bhd is taking those bold steps, in fact, the company has become the first Malaysian company to offer a fully-integrated online and offline service-based sharing platform focusing on afterlife planning.
According to founder and chairman Melvin Loh Kok Man, the group is in the midst of rolling out the country’s very first application platform that focuses on afterlife support to provide hassle-free guidance and reasonable costing for the funeral ceremony and related services.
“Once we have built up our subscribers’ base, we are able to offer ancillary services through our ecosystem. Our vision is to revolutionise and digitalise Malaysia’s bereavement industry. We are here to help you plan your death,” he remarks.
Loh highlights that in general, most digital afterlife services providers in the Western countries are currently offering four main services: managing digital information, hosting online memorials, re-creation, and posthumous messaging, in which digital messages are sent to a deceased person’s loved ones after their death.
But Life Eternity has decided to take a step further to collaborate with other cemetery owners.
“Our business model is very different from other service providers available. We are asset-light as we do not buy land or a cemetery. Subscribers of Life Eternity are able to choose where they want to be buried upon their demise while the latter – with its vast experience in this industry – will get the location they want while maintaining the budgeted cost,” he says.
Headquartered in Sungai Chua, Kajang, Life Eternity which was founded in 2017, positioned itself as a one-stop contract pre-planning afterlife service provider.
The company is in the midst of raising funds via the issuance of redeemable and convertible preference shares (RCPS) to private investors while eyeing for initial public offering (IPO) within five years.
“With our app platform and big data as well as the support of my shareholders and value partners, we expect Life eternity to replicate this business model via our expansion to Hong Kong, Taiwan, and other Southeast Asian countries,” he adds.
For the first round of the RCPS exercise, Life Eternity seeks to raise RM20 mil. It adds that any amount raised will be used mainly as working capital and related development, including the app development.
