Yangzijiang ShipBuilding is set to be the first company to trade its shares in yuan on the Singapore Exchange's (SGX) dual currency platform.

The ship builder's yuan-denominated shares will start trading on Aug 5, alongside its Singapore dollar-denominated counter, the company said in a statement on Thursday.

This means Yangzijiang investors will have the option to buy or sell in either yuan or Singdollar counters, with trades settled in the respective currencies, Yangzijiang said.

The company's operations are mainly in China and its functional reporting currency is in yuan, resulting in many investors from China and Hong Kong who want to invest in the company's shares, Yangzijiang added. This dual currency trading platform will let them do so in yuan without having to worry about foreign exchange risk or currency conversion fees.

"Over the years, we have met many investors keen on investing in Yangzijiang, but through investments in Renminbi, and with this dual currency trading for our shares these investors have the convenience and flexibility to invest in Yangzijiang in a more cost effective manner," said Yangzijiang executive chairman Ren Yuanlin.

"This counter will also give the opportunity to overseas investors to invest their Renminbi offshore in an easy and reliable way as Singapore remains an attractive avenue for overseas investors and as we remain confident of Yangzijiang's performance."

Magnus Bocker, SGX chief executive, said: "This is an exciting and positive development for Singapore as an offshore Renminbi centre. It also demonstrates how SGX is contributing to the infrastructure and capabilities required for issuers and investors to tap on opportunities offered by China.