Lai Kai Jin Michael (Lai Kairen Michael) v Maybank Securities Pte. Ltd. & Anor

[2025] SGHC 206 High Court (General Division) 24 October 2025 • HC/OC 887/2023 • 45 min read
4 cases cited (3 SG, 1 foreign)

Catchwords

Contract — Breach Damages — Compensation and damages Equity — Remedies — Account — Account on wilful default basis

Practice Areas

Contract Damages Equity

Judges (1)

Andre Maniam Delivered

Counsel (8)

Selvam LLC Firm Setia Law LLC Firm Loh Weijie Leonard Counsel Plaintiff Mah Hao Ran Ian Counsel Defendant Ong Tun Wei Danny Counsel Defendant Sarbjit Singh Chopra Counsel Plaintiff Teo Jason Counsel Defendant Wong Hoi Leng Chloe Counsel Plaintiff

Parties (3)

Maybank Securities Pte Ltd Defendant Lai Kai Jin Michael (Lai Kairen Michael) Plaintiff Teo Hui-Ni Sumiko-Jill (Zhang Huini) Defendant

Case Significance

[2025] SGHC 206 is a High Court (General Division) decision dated 24 October 2025 concerning Contract, Damages, and Equity, specifically addressing breach, compensation and damages, and remedies. The judgment was delivered by Andre Maniam. The case was brought by Lai Kai Jin Michael (Lai Kairen Michael) (plaintiff) against Maybank Securities Pte Ltd and others (defendant). Legal representation was provided by Selvam LLC and Setia Law LLC. The judgment cites 4 cases (3 Singapore, 1 foreign) and references 1 statutory provision, namely the Evidence Act.

Summary

Mr Lai sued Maybank Securities and his trading representative Ms Teo for losses in his brokerage accounts over an 11-year period during which Ms Teo had broad discretion to transact. The court dismissed Mr Lai's claim as he had given Ms Teo authority to trade, failed to review account statements sent to him, and his claim was time-barred. Maybank Securities' counterclaim for outstanding amounts was granted, with costs of over $1.15 million awarded on a contractual indemnity basis.

What was decided in [2025] SGHC 206?

[2025] SGHC 206 (Lai Kai Jin Michael (Lai Kairen Michael) v Maybank Securities Pte. Ltd. & Anor) is a High Court (General Division) decision from 24 October 2025 addressing Contract, Damages, and Equity, specifically breach, compensation and damages, and remedies. The judgment was delivered by Andre Maniam.

Who were the parties in Lai Kai Jin Michael (Lai Kairen Michael) v Maybank Securities Pte. Ltd. & Anor?

The plaintiff in [2025] SGHC 206 was Lai Kai Jin Michael (Lai Kairen Michael), and the defendant was Maybank Securities Pte Ltd, Teo Hui-Ni Sumiko-Jill (Zhang Huini). Legal representation included Selvam LLC and Setia Law LLC. The case was decided on 24 October 2025 in the High Court (General Division).

Which judge decided [2025] SGHC 206?

[2025] SGHC 206 was delivered by Andre Maniam in the High Court (General Division) on 24 October 2025. The case concerned Contract, Damages, and Equity.

What cases and statutes does [2025] SGHC 206 cite?

[2025] SGHC 206 cites 4 prior decisions, including 1 from foreign jurisdictions. It references Evidence Act.

Statutes Cited

Evidence Act (Cap 97)
s 32(1)(j)

Cases Cited (4)

SG (1)
[2011] SGHC 149
SLR (2)
[1999] 1 SLR(R) 857 [2014] 3 SLR 909
UK (1)
[1928] 1 KB 48

Judgment

Read the full judgment on the official Singapore Courts portal.

Read on eLitigation

Source: eLitigation ([2025] SGHC 206)