Singaporean billionaire Peter Lim's ex-wife is suing HSBC, claiming she suffered losses because of the bank's negligence, a report says.

Singaporean billionaire Peter Lim's ex-wife is suing HSBC, claiming she suffered losses because of the bank's negligence, the Straits Times (of Singapore) publication has reported.

"HSBC denies Teo’s claim in full, and will defend against her claim vigorously. We have filed a robust defence to the claim on 17 January 2014," the bank told WealthBriefingAsia in a statement yesterday, when asked about the matter.

Teo Geok Fong, who started investing with private banks after her divorce settlement in 2002, claimed she was misled into believing certain products were suitable for her risk profile, according to her lawsuit filed against HSBC's Singapore unit, the publication reported. It said HSBC has denied any wrongdoing.

HSBC "was always eager, motivated by their own commercial interests and/or financial benefits" to persuade her to buy products, including accumulators, de-cumulators and equity-linked notes, according to Teo's complaint filed in the Singapore High Court, the publication said.