Sukha Golden

Sukha Golden Elevating Senior Living : One Community

Healthcare Hospitality Lifestyle Social Enterprise Wellness & Lifestyle Social Impact
Pre-Live
  • RM 5,902,400
    Min. Target

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  • Equity - OS
  • ~ up to 20.00%
  • RM 40,000,000
  • RM 5,902,400
  • RM 10,001,600
  • -
  • Sukha Golden Sdn Bhd
  • 115, Jalan Templer
  • 202201039818
  • 90 rooms senior living resort located in Shah Village (PJ New Town) with over 1,200 customer database, closed 25 clubhouse packages before launch.
  • Experienced and strong management team from relevant industry with proven successful track record.
  • Senior living provider with strong partnership ties with National Cancer Society Malaysia, Sikh Women's Awareness Network, and Seniors Aloud.

Summary

Sukha Golden Sanctuary (Sukha Sanctuary) is a pioneering memory club and dementia day retreat center in Malaysia, dedicated to providing specialized support to elderly individuals with dementia and other cognitive impairments. We officially commenced operations in December 2022 and are located in the heart of Petaling Jaya. Our unique approach to non-clinical memory and dementia therapy sets us apart in the region, offering a range of evidence-based therapies, including art, music, reminiscence, and sensory therapy, designed to improve the quality of life for our patrons and their caregivers.

We are fundraising to further our mission of creating a warm and welcoming environment where our patrons can thrive, and their families can find peace of mind knowing that their loved ones are in good hands. The funds raised will be instrumental in expanding our services and establishing Sukha Retirement Resort in PJ New Town. This retirement resort will provide independent living, service living, and a wide range of amenities and services tailored to the unique needs of our senior residents. Our innovative "clubhouse living" concept aims to change the perception of senior living facilities, fostering a sense of community among like-minded individuals and promoting independence, community, and a sense of purpose.

Our fundraising campaign will be supporting the transformation of the senior living landscape in Malaysia, breaking down stereotypes, and providing a vibrant and modern living environment for our seniors.

The investment will not only have a positive impact on the lives of the elderly but also help meet the growing demand for specialized memory and dementia retreat in an aging nation. Join us in creating a brighter future for our seniors and their families.

Problem

Sukha is on a mission to address several critical problems within the senior living industry in Malaysia.

1. Social Stigma
One of the primary issues we aim to solve is the social stigma attached to old folks' homes. Despite the growing aging population, many seniors in Malaysia are hesitant to embrace the idea of living in such facilities due to this stigma. This can lead to isolation and a lack of proper care for our elderly citizens.

2. Outdated Facilities
There's a perception that senior living facilities are often housed in retrofitted or outdated buildings, lacking the necessary amenities and services tailored to the unique needs of senior citizens. This lack of modern, well-equipped facilities can be a significant pain point for both seniors and their families.

3. Negative Impact on Seniors
The prevailing stigma can negatively affect the emotional well-being of seniors, causing them to feel isolated and reluctant to seek the support they need. We believe that aging is a natural part of life and should be celebrated, not stigmatized.

4. Lack of Specialized Support
In the context of dementia and cognitive impairments, there is a shortage of qualified and regulated support facilities that offer specialized non-clinical memory and dementia therapy. This gap in support can be distressing for both patients and their families.

Sukha is dedicated to transforming these pain points into opportunities. We aim to change the perception of senior living by offering a vibrant, modern community that fosters independence and a sense of belonging. Our unique approach to non-clinical memory and dementia support and the creation of Sukha Retirement Resort will provide seniors with a safe, nurturing, and innovative environment where their unique needs are met. By addressing these challenges, we are paving the way for a more compassionate, inclusive, and harmonious senior care industry in Malaysia. Investing in Sukha means being part of this positive change and making a meaningful difference in the lives of our seniors.

Solution

Our solution at Sukha is a multi-faceted approach to address the problems in the senior living industry in Malaysia and provide a better quality of life for our elderly population.

1. Mindset Shift
To combat the social stigma associated with senior living, we have developed a unique concept of "clubhouse living." This concept fosters a sense of community among like-minded individuals, promoting independent living, and encouraging seniors to remain physically and mentally active, regardless of their age. We aim to change the perception of senior living from a negative experience to a positive, fulfilling one.

2. Three Pillars of Essence
At the core of our business and solutions are Sukha’s three pillars of essence: Safety & Comfort, Health & Nutrition, and Social Engagements & Activities. These pillars serve as the foundation for our approach, ensuring that our retirement resort provides a holistic approach to senior living.

3. Innovation and Creativity
We go beyond traditional senior living options by offering elderly-friendly designs and amenities that promote comfort and convenience. Our support services include meal planning, housekeeping, wellness and medication management, and a wide range of social activities.

4. Value-Added Services
Our retirement resort will offer a range of value-added services such as a swimming pool, all-day international al-fresco dining, en-suite rooms, and more. We will also invest in the right technology, including non-invasive fall monitoring, sleep pattern detectors, voice-activated room lights, and in-room services via an app. This ensures that our retirement resort is a truly exceptional "Club Med" experience for senior citizens, focused on promoting independence, community, and a sense of purpose.

5. Prime Locations
Sukha Sanctuary is strategically located in Petaling Jaya, and the new Sukha Retirement Resorts will be located at PJ New Town. This prime location allows us to tap into growing catchment markets and offer our services to a broader audience.

By implementing these solutions, we aim to eliminate the social stigma, offer modern, vibrant living facilities, and provide specialized support to address the cognitive impairments faced by many elderly individuals. Sukha is dedicated to changing the landscape of senior living in Malaysia, creating a more inclusive and supportive environment for our seniors and their families. Investing in Sukha means being part of this transformative journey and contributing to a brighter, more compassionate future for our aging population.

Product

Sukha offers a range of products and services aimed at providing comprehensive senior living and a fulfilling lifestyle for elderly individuals. These services address the challenges and needs of seniors, especially in the context of Malaysia's aging population. Here are some of the key features of the products and services offered:

1. Clubhouse Concept 
Sukha Sanctuary operates as a "Clubhouse" for seniors, providing them with a vibrant and engaging environment where they can socialize, participate in activities, and enjoy various amenities. This approach promotes a sense of community and belonging among the residents.

2. Independent Living 
The retirement community offers independent living options for seniors, allowing them to live on their terms in well-designed studios or en-suite rooms. This fosters a sense of freedom and choice while providing the necessary support.

3. Service Living
Sukha Sanctuary caters to seniors who require service living, including those with mobility challenges or in the early stages of dementia. This level of support ensures that residents receive the assistance they need while maintaining their quality of life.

4. Dementia Retreat
Sukha provides specialized dementia support, offering physical and cognitive wellness to support the mental well-being of residents with dementia.

5. Spacious Rooms
The rooms in the retirement resort are spacious, with some featuring balconies. This design ensures that residents have comfortable living spaces that feel like home.

6. Facilities and Amenities
Sukha offers various amenities, including communal spaces, recreation areas, dining facilities, and more, to enhance the overall quality of life for residents.

7. Wellness Programs
The retirement community organizes wellness programs, activities, and events to keep residents engaged and active, supporting their physical and mental well-being.

8. Social Engagement
Promoting social engagement is a key feature. The community facilitates interactions among residents, which is crucial for combating isolation and promoting a sense of belonging.


The core solution offered by Sukha is to provide a high-quality, inclusive, and vibrant living environment for seniors that addresses the challenges faced by this demographic as they age. By offering various levels of compassion, from independent living to dementia retreat. Sukha is meeting the diverse needs of its senior residents while fostering a sense of community and social engagement. The spacious rooms, wellness programs, and inclusivity features further contribute to solving the problems associated with senior living and aging, ultimately enhancing the quality of life for elderly individuals.

Traction

Sukha has achieved remarkable progress:

  • Over 1200 names in our customer database within 9 months, with minimal marketing expenditure.
  • Maintaining an average daily patron capacity of 80%.
  • Robust financial growth at a consistent rate of 30% month-to-month.
  • The sale of 30 Clubhouse packages in just 8 months.
  • Attracting over 300 visitors per month.

Key milestones include:

a. Pioneering the Retirement Clubhouse concept in the Malaysian senior living industry.

b. Successful, cost-efficient marketing strategies leading to rapid customer acquisition.

c. High patron capacity, reflecting the excellent quality of services.

d. A strong and sustainable financial performance.
e. Selling 25 Clubhouse packages in a short timeframe.

 

Growth Factors and Success:

The rapid expansion and achievements of Sukha are attributed to key factors:

  • Innovative Concept 
    • The introduction of the Retirement Clubhouse concept, a novelty in Malaysia's senior care industry, garnered substantial attention and differentiation.
  • Cost-Efficient Marketing 
    • With a limited marketing budget (less than RM3,000), Sukha Sanctuary secured over 1200 customer names, highlighting the efficacy of its marketing strategies.
  • High-Quality Services
    The consistently high patron capacity and positive customer feedback reflect the superior quality of services and care, enhancing the organization's reputation.
  • Sustained Financial Growth
    A steady 30% month-to-month growth rate affirms the business model's profitability, fostering confidence among customers and prospective investors.

Customers

Sukha Sanctuary primarily caters to seniors aged 55 and above, including those with dementia. Our services are tailored to meet the diverse needs of this demographic. Furthermore, we have established partnerships with NGOs, including the National Cancer Society Malaysia (NCSM), Sikh Women's Awareness Network (SWAN), and Seniors Aloud. These partnerships allow us to engage with a wider community of seniors and provide valuable services, such as support and wellness activities.

The industry we are targeting is senior living, particularly the retirement community sector. Research indicates that Malaysia's aging population is on the rise, with the elderly population (60 years and above) expected to reach 10% by 2024[1], comprising approximately 3.3 to 3.4 million individuals. The senior living industry is an evergreen and booming sector. Our services primarily cater to urban communities in Petaling Jaya, Selangor, and Kuala Lumpur. The strategic location positions us to serve the growing urban population of elderly individuals, including those with dementia and other age-related conditions.

Furthermore, by positioning Malaysia as a retirement destination for foreigners, we will tap into the growing trend of international retirees seeking affordable support services and friendly living environments. Malaysia's appeal to foreign retirees, as listed in the International Living’s Global Retirement Index 2021[2], opens a new avenue for growth.

To acquire more customers in the senior living industry, Sukha can employ various strategies:

  • Digital Marketing 
    • We will invest in digital marketing channels, such as social media, search engine optimization (SEO), and online advertising, to reach a wider audience and create an online presence.
  • Partnerships
    • We will strengthen existing partnerships with NGOs and explore collaborations with other organizations or healthcare providers to expand our reach.
  • Local Community Engagement
    • We will engage with local communities through workshops, seminars, and events related to senior care. Establish a strong presence in neighborhoods to build trust.
  • Referral Programs
    • We will capitalize on word-of-mouth referrals from satisfied customers and their families, leveraging their positive feedback and experiences.
  • Senior Tourism Promotion
    • Given our ideal location for senior tourism, collaborate with support providers and agencies to attract international retirees seeking retirement and senior support services in Malaysia.
  • Online Presence 
    • We will further expand to a comprehensive website that showcases our services, facilities, and customer testimonials. An informative online presence can attract potential customers and provide a platform for inquiries and bookings.
  • Community Outreach
    • We will conduct community outreach programs, wellness camps, and workshops to engage with potential customers directly and educate them about the benefits of senior living services.

Feedback and Improvement: We will continuously gather feedback from customers to improve services and facilities. Satisfied customers often become brand advocates, driving new customer acquisitions.

Business Model

Sukha's central objective is to become a leading provider of senior living services in Malaysia, emphasizing affordable and inclusive support. The company aims to establish itself as a pioneering and trusted brand in the senior living industry, setting new standards in the country.

Key milestones in our journey include the development of Sukha Retirement Resort in Petaling Jaya. This resort will not only cater to independent living but also provide service living and dementia retreats. As part of our long-term vision, the company plans to extend its services to other regions, such as Penang, Bintan Island (Indonesia), and Johor Bahru.

An eventual Initial Public Offering (IPO) under Hemrish Group in 5 to 7 years is in the horizon, signifying an aggressive expansion plan.

Sukha's imminent expansion revolves around the development of Sukha Retirement Resort in Petaling Jaya. This resort will serve as a major step in catering to seniors with various support needs. They plan to provide spacious rooms, some with balconies, offering residents a comfortable and enriching living environment. The amenities will include a swimming pool and a yoga deck, enhancing the quality of life for their residents. This expansion plan will diversify our service offerings and target a wider audience.

The introduction of Sukha Retirement Resort is the pivotal new product offering for Sukha. This resort signifies a substantial extension of our service portfolio. We will address the requirements of seniors with diverse support needs, providing independent living options, service living, and dedicated support for individuals with dementia.

Sukha's marketing strategy encompasses a multifaceted approach. We will create awareness through advertising, as seen in their advertorial in InfoMed Malaysia. We are actively seeking opportunities to collaborate with local organizations and NGOs, which align with their vision of promoting wellness and social engagement.

Our unique selling propositions (USPs), which encompass competitive pricing, spacious rooms with various amenities, and the inclusion of specialized support facilities, will be the focal points of our marketing efforts. We aim to attract both residents and their families by highlighting these distinctive features.

The financial aspect of Sukha is crucial for realizing our expansion plans. The company is fundraising to raise RM10 million, with 70% of these funds allocated to build-up expenses, covering construction and equipment purchases for the new retirement resort. The remaining 30% of funds will be directed toward operating expenses, which include staffing, marketing, branding, and maintenance. These financial plans are pivotal for ensuring the successful development of the new retirement resort and the sustained growth of the business.

Sukha's business model is not just about providing senior support; it's about redefining the concept of senior living in Malaysia. Our focus on affordability, inclusivity, and sustainability, along with the expertise of the management team, places us in a favourable position for future growth and success. The comprehensive services offered through the retirement resort signify a significant leap in the service portfolio, and our aggressive expansion plans indicate a commitment to serving a broader audience of seniors with varying support needs. This combination of vision, strategy, and operational excellence is what sets Sukha apart in the senior living industry.

Market

Sukha's current industry of operation is the senior living sector, which is a subset of the broader healthcare and hospitality industries. The company caters to the specific needs of seniors aged 55 and above, including those with dementia, offering a range of services and facilities to enhance their quality of life.

While specific numerical data on market share is not provided, Sukha's business strategy revolves around establishing a significant presence in its catchment area, which includes Petaling Jaya in Malaysia. The localized approach is intentional, as it allows the company to tap into the immediate market demand for senior support services in these regions.

By focusing on these catchment areas, Sukha aims to create a strong market share and become a trusted provider of senior support services in the local community. This approach aligns with the principle of proximity and convenience, which is highly valued by seniors and their families when choosing a senior living facility.

Furthermore, Sukha's expansion plans into new regions, such as Penang, Bintan Island (Indonesia), and Johor Bahru, indicate its ambition to replicate its successful localized model in these areas. The company aims to capture a larger market share not only within its current areas of operation but also in these new regions, thereby expanding its footprint in the senior care industry.

As part of its growth strategy, Sukha is also planning an initial public offering (IPO) under the Hemrish Group in 5 to 7 years. This move is significant because it will allow the company to access additional capital, further strengthen its market share, and expand its services on a national and potentially international scale. This IPO strategy aligns with Sukha's goal of becoming a dominant player in the senior living industry.

Competition

Sukha Sanctuary operates in the senior living industry and faces competition from various local senior care facilities in Malaysia, including Lotus Care, Sunway Sanctuary, Pacific Senior Living, and Komune Living. These local competitors offer services to cater to the needs of the senior population in Malaysia, which adds to the competitive landscape.

Sukha distinguishes itself through several unique value propositions:

  • Affordability 
    • Sukha positions itself as an affordable senior living option, aiming to provide quality care without exorbitant costs, making it accessible to a broad spectrum of seniors.
  • Clubhouse Concept
    • The unique clubhouse concept focuses on providing seniors with an engaging, active, and social environment where they can participate in various activities, fostering a sense of community and well-being.
  • Wellness Facilities
    • Sukha's plan to include a state-of-the-art wellness centre in our upcoming retirement resort could set us apart by providing essential wellness services on-site.
  • CEO's Expertise
    • The CEO's extensive experience in setting up hotels and senior living homes across Asia, including India, China, and Indonesia, adds a valuable dimension to the team.
  • Collaboration with the Gerontological Association of Malaysia (GEM)
    • The partnership with GEM to create an Entrepreneurship Program focused on aged care management and operations can contribute to knowledge-sharing and industry leadership.
  • Prime Location
    • Sukha strategically positions its retirement resorts, making them accessible to urban communities and potential senior tourism from neighboring countries. This prime location offers a significant advantage.

Funding

The company plans to raise a total of RM10 million in the upcoming fundraising round. Here's the fund utilization plan:

  • Build-up Expenses (Construction and Equipment): 70%
  • Operating Expenses (Staffing, Marketing, Branding, and Maintenance): 30%

The majority of the funds, 70%, will be allocated towards Build-up Expenses, including construction costs and equipment purchases to support the development of the retirement resorts. The remaining 30% will be used for Operating Expenses, which include staffing, marketing, branding, and maintenance to ensure the successful operation and promotion of the senior living facilities.

Vision

The vision of the business, Sukha is centered around "Care, Community, and Comfort." Sukha aims to provide comprehensive support to seniors by offering a range of services that cater to their diverse needs. The company's independent living communities are designed to give seniors the freedom to live life on their terms, with access to various amenities and services to support their needs. This vision reflects the commitment to creating an environment where seniors can lead fulfilling, independent lives.

As for the bigger plans of the company, Sukha intends to expand to reach a wider audience. Once our retirement resort in Petaling Jaya is established and operating successfully, we plan to bring our unique value propositions and dedication to excellence to other locations, such as Penang, Bintan Island (Indonesia), and Johor Bahru.

Additionally, we are planning to carry out an initial public offering (IPO) under the Hemrish Group in 5 to 7 years to further expand our services and reach more seniors in need of exceptional support.

Sukha Sanctuary's growth strategy is focused on extending our footprint and enhancing the quality of senior living services in Malaysia and beyond.

Founders

N. Raaj Selvarajan, the Founder & Chief Executive Officer (CEO) of the company, is a seasoned professional with an extensive and diverse background. His notable expertise in the field of senior living has been instrumental in shaping the company's vision and success.

Raaj's journey in the senior living industry began when he took on the role of founding director at Columbia Pacific Management Company in 2020. Previously, he had successfully initiated various aspects of the company, including strategy, policies, staffing, marketing, sales, and business development. His responsibilities extended to full Profit and Loss (P&L) accountability.

One of his remarkable achievements was the acquisition of two prominent sites: Merrida Hotel in Klang, as well as the iconic EPF building in Jalan Gasing, Petaling Jaya, for conversion into senior living facilities. Under his leadership, he was fully responsible for overseeing the design and construction of these facilities, ensuring they met the highest standards.

Raaj's commitment to the industry also led him to turn around an underperforming RM100 million business, where he streamlined four business units under a coherent commercial and operational nationwide strategy. This transformation resulted in restored profitability, higher-than-market revenue gains, and increased market share in strategic and emerging regions.

His influence on the industry extended to a national level when he served on the board of the panel for the Ministry of Finance Malaysia's startup ecosystem. Furthermore, Raaj currently serves as the Managing Partner of a Malaysia-based Family Fund, demonstrating his financial acumen and investment management skills.

As if that wasn't enough, he also extended his reach to the hospitality sector by purchasing and successfully flipping three hospitality facilities in Kuala Lumpur, Sabah, and Sarawak. These ventures demonstrate his exceptional ability to reverse losses into profits and serve as a catalyst for growth and expansion in various industries.

Team

Investment Terms

Disclosure

  1. pitchIN and its officers and staff may also be investing in this campaign
  2. Under ECF Guidelines, valuation is determined and set by the Issuer. Investors are advised to carefully peruse all investment offers and documents before making investment decisions.

References

  1. The Star (2023), “Is Malaysia ready to meet needs of an ageing population? ”. Retrieved n 5th March 2024, link: https://www.thestar.com.my/news/nation/2023/10/06/is-malaysia-ready-to-meet-needs-of-an-ageing-population
  2. International Living (2024), “Best Places to Retire in 2024: The Annual Global Retirement Index”. Retrieved on 5th March 2024, link: https://internationalliving.com/the-best-places-to-retire/ 
  • Equity - OS
  • ~ up to 20.00%
  • RM 40,000,000
  • RM 5,902,400
  • RM 10,001,600
  • -
  • Sukha Golden Sdn Bhd
  • 115, Jalan Templer
  • 202201039818
Warning
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