Addressing the healthcare and retirement needs of Malaysia’s seniors
Our Purpose
Malaysia faces a looming crisis where less than 4% of EPF contributors can afford to retire. The lack of adequate savings, coupled with insufficient private health insurance coverage leave many seniors financially vulnerable to major health shocks including serious illnesses such as cancer.
Close to a third of all people diagnosed with cancer annually are above the age of 65 and the number of senior cancer patients are expected to double to over 43,000 annually by 2040.
Retirees have limited options when it comes to financing their cancer treatments as they are not eligible for personal loans due to their age and lack of income. They could choose to sell their home and pay rent for the rest of their lives – but this is a perilous route fraught with uncertainty of tenure, which no one should have to face in their twilight years.
Reverse mortgages are another option, but these are inherently costly due to hefty transaction expenses, debt accruing with interest over time and the loan being repaid typically via auction when the borrower passes on.
KALSIS was created by AN LIVING in partnership with Kenanga Investors Berhad, to provide seniors with an alternative method to unlock wealth from their biggest asset: their homes.
KALSIS operates as a reverse annuity scheme integrated with Big Data and AI analytics, where qualified seniors can sell their home titles at market value to receive lump sum payouts and monthly lifetime annuities while being able to age in place without moving. When they pass on, their residence is sold and capital is returned to investors.
KALSIS is Asia’s first impact scheme to harness the power of capital markets and is funded by institutional investors with Kenanga Investors Berhad leading the charge.
Founder and CEO
Jonathan Teoh
Jonathan Teoh leads AN LIVING’s foray into Malaysia as the innovation and administrative partner of the Kenanga AN LIVING Silver Impact Scheme (‘KALSIS’).
KALSIS is Asia’s first impact scheme harnessing the power of innovation and capital markets to address the needs of Malaysia’s ageing population. The Scheme enables seniors to unlock wealth from their homes to finance their healthcare needs and enhance their financial resilience in retirement whilst ageing-in-place in the comfort of their homes and familiarity of communities.
AN LIVING is a product of Modern Ageing – an innovation programme jointly administered by NUS Enterprise (the entrepreneurial arm of the National University of Singapore) and ACCESS Health International to catalyse ageing and healthcare related innovations.
Jonathan is a UK-trained architect and multi award-winning marketing professional. His notable career achievements include being part of the vanguard at M+S (a company owned by Malaysia’s Khazanah Nasional and Singapore’s Temasek Holdings) that raised two iconic integrated developments in Singapore worth S$11B, the master-planning of a 4,500-acre development in Iskandar Puteri to power Johor’s growing digital economy and the rebranding of Malaysia-based property developer UEM Sunrise.
Grow your career at KALSIS
Welcoming the fearless who pursue excellence and are searching for a mission to set their soul on fire.
Upload Your CVWe are constantly looking for highly talented and ambitious team players to help us deliver on KALSIS’ mission. Whether you are a professional, university graduate or returning to the workforce, we welcome you to share your career details.