Retired people in Hong Kong are being invited to spend their golden years - and their money - in Malaysia. Applicants under the Malaysian Government's initiative, dubbed the Silver Hair Programme, must be 50 or over, have health insurance and deposit 100,000 Malaysian dollars (HK$205,000) in a Malaysian bank account. The sales pitch focuses on the country's lower cost of living, 'perpetual summer', business environment and friendly people. The programme will be launched today with a Malaysia-based commercial partner, Country Heights, which will promote the scheme in Hong Kong, the mainland and Macau. 'The Malaysian Government wants the people to bring in cash and invest there,' project spokeswoman Iris Kwok, said. 'They just promote living in a better environment with more living space and a lower cost of living.' It was difficult to estimate the probable number of applicants from Hong Kong or the number of people from the territory who had already retired to Malaysia, she said. Selina Chow Liang Shuk-yee, who chairs the Hong Kong Tourist Association, said there were quite a few options for Hong Kong residents to retire overseas, besides Malaysia. 'It really is quite a competitive market out there,' she said. The mainland, Canada and Singapore were among the more popular choices, she added. Country Heights' director of operations for the Silver Hair Programme, Candy Yap Suat Hong, said the scheme had existed since 1987 but had never been heavily promoted in Hong Kong. The latest promotion is aiming to change that by running an advertising campaign, lowering the age of applicants from 55 to 50 and by streamlining the application process. Successful applicants would not be allowed to work in Malaysia, but could start their own businesses.