LIFE ETERNITY GROUP AIMS TO DIGITALISE MALAYSIA'S BEREAVEMENT INDUSTRY

KUALA LUMPUR, Nov 5 (Bernama) -- At a time when the Covid-19 pandemic is causing a dramatic loss of human life worldwide and presenting an unprecedented challenge to public health, many people around the world are still figuring out how to mourn digitally at a distance and how to prepare for their own deaths. Life Eternity Group Bhd (“Life Eternity”) has taken the lead to become the first Malaysian company that offers a fully-integrated online and offline service-based sharing platform focusing on afterlife planning. According to Life Eternity 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. Philosophically, Life Eternity embraces both life and the afterlife by dispelling the traditional myths surrounding death by encouraging people to accept the natural cycle of life and death. In so doing, one can pre-pay his/her funeral expenses on a yearly basis and even enjoy benefits and discounts from partners of Life Eternity. “Death used to be perceived a taboo subject by many Asian cultures, but today, people are becoming more open-minded to discuss afterlife pre-planning or be mentally ready to accept death as part and parcel of life,” says Loh. Life Eternity 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. It should be noted that this fundraising exercise is by invitation only and for those who believe in such a business model. “My long-term vision is to get Life Eternity listed on the stock exchange so that more investors could participate in our growth story. I sincerely believe our company has a bright prospect given our business model can change the landscape of the bereavement industry,” says Loh. “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. Any amount raised shall be used mainly as working capital and related development, including the app development of Life Eternity.