<PAGE>

                                                                    EXHIBIT 4.13

                                   TRANSLATION

                                TENANCY AGREEMENT

Party A:     Shekou Wan Ha Enterprises        Telephone:  26684762.
             Shareholding Co. Ltd.

Party B:     Jetcrown Industrial (Shenzhen)   Telephone:  13609620061

Identity Card or Unit Business Licence No.:

                  Through negotiations of both parties, and according to the
relevant regulations of Shenzhen Special Economic Zone, Party A and B signed the
following contract relating to lease of property.

1.       Party B is, at his own discretion, to lease 66 dormitories of Block C1,
         New Wing Village, Shekou, including Room 201-203; 205-208; 210-214;
         305; 307-310; 402-405; 407; 409; 413; 414; 416; 502-504; 506; 507; 510;
         513-516; 601; 603-607; 609-616; 701-716 and 38 dormitories of Complex
         Building, Wing Village, including Room 203; 205-208; 210-212; 214; 216;
         217; 302-305; 307; 309; 310; 312-317; 401; 403-405; 407-416 from Party
         A. The properties will be used as DORMITORY. The construction areas of
         these rooms are 3,268.49 and 1,857.89 square meters respectively and
         the total construction area is 5,126.38 square meters. The total
         monthly rental shall be DOLLARS EIGHTY THOUSAND FORTY THREE AND CENTS
         TEN RENMINBI (RMB80,043.10).

2.       The terms of the tenancy shall be from January 1, 2003 to December
         31, 2003.

3.       The monthly rental will be cleared per month. (if less than 15 days,
         Party B should pay half month rental; if more than 15 days, Party B
         then should pay whole month rental). The rental should be paid once in
         each month. Party B should pay the rental before 5th of each month to
         the shroff department of Party A. If the rental becomes overdue, a late
         charge of 2% per day will be charged. If the rental becomes overdue for
         more than thirty days, it will be treated as breach of contract by
         Party B. Party A has the right to take possession of the property and
         request Party B to pay the rental and the guarantee sum will not be
         refunded.

4.       On signing of this Agreement, Party B shall pay to Party A a guarantee
         sum which equals to one month's rental i.e. DOLLARS EIGHTY THOUSAND
         EIGHT HUNDRED FORTY EIGHT AND CENTS TEN RENMINBI ( RMB 80,848.10).
         Upon the expiry of the contract, Party A will refund the guarantee sum,
         without interest, to Party B.

<PAGE>

5.       Party B is not allowed to alter the structure and use of the property
         at his own discretion. If any loss or responsibility arises because of
         this reason, Party B has full responsibility to renovate the same or
         indemnify from the economical loss. According to the situation, Party A
         has the right to take possession of the property. Any loss arise will
         be deducted from the guarantee sum paid by Party B. (If the amount is
         insufficient, Party B should pay the balance.)

6.       Party B can, with Party A's permission, to alter the building structure
         and use of the property. Upon the expiry of the contract, Party A has
         the right to request Party B to restore the property into original
         state and condition without any conditions. The relevant expenses
         should be borne by Party B.

7.       During the tenancy period, if there is any loss arise from the
         occurrence of natural disasters, both parties should handle the case
         according to the relevant regulations.

8.       During the tenancy period, Party B is not allowed to sublet the
         property to third parties. Otherwise, a penalty, which equals to two
         times the rental, will be imposed and Party A will take possession of
         the property. All the responsibility will be borne by Party B.

9.       Upon the expiry of the contract, with the agreement of Party A, Party B
         can renew the contract but Party B should inform Party A one month
         before the expiry of the contract. The rental will be determined by
         Party A. If under the same conditions offered by third parties, Party B
         has the first priority to lease the property. After the expiry date,
         Party B does not move out and return the property and he does not
         intend to renew the contract, Party A has the right to take relevant
         actions to take possession of the property. Party A can deduct or
         confiscate the contract guarantee sum and request Party B to pay the
         overdue rental.

10.      Both parties cannot breach the contract at his own discretion after
         they signed and chopped the contract. In the course of the contract, if
         either party proposed to terminate the contract, the proposed one
         should compensate the other party a sum, which equals to one month's
         rental. Through the negotiations of both parties, they can terminate
         the contract but they should give one month's notice to the other
         party.

11.      The rental mentioned in this contract does not include the management
         fee charged by the relevant property management department, the water
         and electricity charges, gas fee and cable TV charges etc. or the fee
         for using the district or urban facilities. Such fees should be borne
         by Party B.

12.      If the relevant departments imposed any charges, it will be borne by
         Party B as well.

13.      Party A should make sure the leased property complies with the relevant
         fire prevention regulations of the Country.

14.      Party B is not allowed to use fire to cook and home used electrical
         appliances. (such as electrical oven, electrical cooker, electrical
         heater)

<PAGE>

15.      Party B is not allowed to install electrical wires at his own
         discretion. If the electrical source is out of order, Party B should
         inform Party A to repair at once. If Party B intends to install
         electrical boiler, he can commence work only after getting Party A's
         permission.

16.      Party A, upon receipt Party B's report, should repair the facilities
         and the expenses will be borne by Party B.

17.      Fire broke out because of the aforementioned reasons, any loss arising
         from the fire will be borne by Party B. If the case is serious, Party A
         will stop the electricity supply and report to National Safety and Fire
         Department to handle.

18.      The yearly rental was at 8% discount as the payment was made at one
         time, i.e. DOLLARS EIGHT HUNDRED EIGHTY THREE THOUSAND SIX HUNDRED
         SEVENTY SIX RENMINBI (RMB 883,676.00).

19.      If there shall be anything that is not provided for by this Agreement,
         the parties can solve it through negotiation. This contract is made in
         triplicate, Party B will keep one copy while Party A will keep two
         copies, they are all have equal legal validity.

         Party A : (Chop)                              Party B: (Chop)
         Signature of the                              Signature of the
         representative : Ng Kwok Pui (Signed)         representative : (Signed)
                                                       December 27, 2002