KUALA LUMPUR: Affin Hwang Asset Management Bhd’s private equity arm, Bintang Capital Partners Bhd, and OSK Ventures International Bhd
(OSKVI) have completed their minority investment into My Care Concierge Sdn Bhd.
In a joint statement, it said the investment was led by Bintang via its maiden fund, BCP Asia Fund I, which is one of the mandated fund managers under Dana Penjana Nasional.
My Care Concierge provides professional caregiver support, allowing the elderly the option of having care provided to them in the comfort of their own homes, or at its premium assisted living facilities in six locations across the Klang Valley and Penang.
OSKVI executive director and chief executive officer Amelia Ong said there was is a pressing need for sufficient care providers to cater to the growing number of elderly Malaysians and My Care Concierge was well-positioned to respond to this increasing demand.
“Data points towards a continuous rise in life expectancy with Malaysia expected to be an ageing population by 2030 where more than 15% of the population will be over the age of 65 years then.
“We believe My Care Concierge, a disruptor in this traditional industry, will continue to plug the gap in this space and we hope that our capital will help accelerate the team’s vision of scaling a socially responsible eldercare enterprise, benefiting all Malaysians,“ Ong said.
