Monday, March 12, 2012

Malaysian Dragon Fish Bonds

In uncertain times it is not uncommon to see an increase in demand for good luck charms, and especially so across Asia. It is little surprise, then, to hear that that an enterprising venture in Malaysia has been raising capital through selling Arowana Bonds, reports the Gulf Times.

The Arowana is a fish that is also known as the “golden dragon” in Chinese culture because its size, shape, metallic scales and whiskers give it the appearance of a dragon. Fish in general are considered lucky because the Chinese word for fish - "yu" - also sounds like the word for wealth. However, 2012 looks set to be a bumper year for the arowana, it being the Year of the Water Dragon.

Investors hurried to buy the 5,000 ten-year bonds on offer at RM2,500 each to become part-owners of the Arowana Ventures fish farm. Sales of the fish, which can fetch up to $50,000 each, are reported to be up 20% this year and the market is estimated to be worth $300m annually.