[1] This was an appeal by the appellant, (the plaintiff in the High Court) Omega Securities Sdn Bhd against the decision of the learned High Court Judge who had after a full trial dismissed the appellant's claim with costs. We had, by a majority, allowed the appellant's appeal.

[2] The appellant's claim against the respondent was basically for contra losses arising out of the sale and purchase of UCB shares. The brief facts of the case are essentially as follows:

By a written agreement (the said agreement) between the appellant and the respondent, the respondent had agreed to open a Non- Margin Facility Account with the appellant for the purpose of, inter-alia, purchasing shares through the appellant. Pursuant to the said agreement, the appellant had carried out purchase of the shares on behalf of the respondent and upon instructions by the respondent. Contract notes for each and every purchase of the shares by the appellant on behalf of the respondent had been forwarded to the respo