<PAGE>   1
                                                                    EXHIBIT 10.3


                      DATED the 1lth day of January , 2001


                               CHINASOUND LIMITED


                                       and


                          SUPPLY CHAIN SERVICES LIMITED



                                ----------------

                        T E N A N C Y  A G R E E M E N T


               relating to 5th Floor on Guangdong Textile Centre,

             Nos. 22, 24 and 26, Minden Avenue, Kowloon, Hong Kong.

                                ----------------



                          S. K. LAM, ALFRED CHAN & CO.,
                             Solicitors & Notaries,
                       202, Dina House, Ruttonjee Centre,
                           11 Duddell Street, Central,
                                    Hong Kong
                              Ref: S/S/TEN:C4456/00
                           Doc: PARTICULARS-GUANGDONG5


<PAGE>   2
                                   PARTICULARS

<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
COLUMN   1                 COLUMN   2
--------------------------------------------------------------------------------
<S>                        <C>
Date of Agreement          The 11th day of January     , 2001
--------------------------------------------------------------------------------
Landlord                   CHINASOUND LIMITED (                          ) whose
                           registered office is situate at 17th Floor, Guangdong
                           Textile Centre, Nos. 22, 24 and 26, Minden Avenue,
                           Tsimshatsui, Kowloon.
--------------------------------------------------------------------------------
Tenant                     SUPPLY CHAIN SERVICES LIMITED whose registered office
                           is situate at 31 New Henry House, 10 Ice House
                           Street, Central, Hong Kong
--------------------------------------------------------------------------------
Property                   5th Floor on Guangdong Textile Centre, 22, 24 and
                           26 Minden Avenue, Tsimshatsui, Kowloon.
--------------------------------------------------------------------------------
Term                       2 Years
--------------------------------------------------------------------------------
Commencement Date          The 6th day of December 2000
--------------------------------------------------------------------------------
Rent                       Hong Kong Dollars Twenty Two Thousand Seven Hundred
                           And Fifty Only (HK$22,750.00) per month.
--------------------------------------------------------------------------------
Management Charges         Hong Kong Dollars Nine Thousand Five Hundred And
                           Fifty Five Only (HK$9,555.00) per month, which is
                           subject to revision at the absolute discretion of the
                           Landlord.
--------------------------------------------------------------------------------
Deposit                    Hong Kong Dollars Ninety Six Thousand Nine Hundred
                           And Fifteen Only (HK$96,915.00) as to HK$68,250.00
                           being rental deposit and HK$28,665.00 being
                           management charges deposit.
--------------------------------------------------------------------------------
Permitted Use              For business purpose only
--------------------------------------------------------------------------------
Rent Free Period           6th December 2000 to 5th February 2001 and 6th
                           October 2002 to 5th December 2002, during which the
                           Tenant is responsible for the Government rates,
                           air-conditioning and management charges.
--------------------------------------------------------------------------------
Bulky Deliveries           Monday to Friday
                           (inclusive)          :      From 8:30 am to 5:00 pm
                           Saturday             :      From 9:00 am to 1:00 pm
--------------------------------------------------------------------------------
Air-conditioning           Monday to Friday
 Operating Hours           (inclusive)          :      From 8:30 am to 6:00 pm
                           Saturday             :      From 8:30 am to 1:30 pm
--------------------------------------------------------------------------------
</TABLE>

<PAGE>   3
     THIS AGREEMENT is made on the date stated as the Date of Agreement in the
Particulars BETWEEN (1) the Landlord and (2) the Tenant

     WHEREBY IT IS AGREED as follows:-

DEFINITIONS         1. (1) In this Agreement the following expressions have the
                           following meanings:

                           (a) expressions in Column 1 of the preceding table
                               hereof have the meanings assigned to them by
                               Column 2 thereof;

                           (b) the Landlord includes its successors in title.

                       (2) Where the Tenant is more than one person their
                           obligations shall be joint and several.

                       (3) Unless the context otherwise requires, words, herein
                           importing the masculine feminine or neuter gender
                           shall include the others of them and words herein in
                           the singular shall include the plural and vice versa.

                       (4) The marginal notes are intended for guidance only
                           and do not form part of this Agreement nor shall any
                           of the provisions in this Agreement be construed or
                           interpreted by reference thereto or be in any way
                           affected or limited thereby.

                       (5) Any reference to any Ordinance includes a reference
                           to that Ordinance as amended or replaced from time
                           to time and to subordinate legislation or bye-law
                           made thereunder.

                       (6) The Particulars mentioned hereinbefore shall form
                           part of this Agreement.

LETTING TERM        2. The Landlord shall let and the Tenant shall take ALL the
 AND RENT              Property on an "as is basis" together with the existing
                       fixture and fittings therein for the Term from the
                       Commencement Date paying therefor during the Term the
                       Rent (exclusive of rates) and the Air-conditioning and
                       Management Charges payable in advance on the 6th day of
                       each calendar month free of any deductions whatsoever;
                       the first payment to be made on the signing hereof.

TENANT'S            3. The Tenant agrees with the Landlord as follows:-
 OBLIGATIONS
 TO PAY RENT,          (1) To pay the Rent and Air-conditioning and Management
 AIR-CONDITIONING          Charges as aforesaid without any set off or
                           deduction whatsoever.

TO PAY RATES           (2) To pay and discharge all rates, taxes, assessments,
 AND OUTGOINGS             duties, charges, impositions and outgoings
                           whatsoever of an annual or recurring nature to be
                           charged or imposed in respect of the Property or
                           upon the Landlord or occupier in respect thereof
                           (Government rent and Property Tax only excepted).

                       (3) To pay and discharge all charges for water,
                           electricity, gas, telephone and other services,
                           whatsoever to be charged or imposed in respect of the
                           Property and to pay all necessary deposits (if any)
                           for the meters therefor.
<PAGE>   4
TO MAINTAIN            (4) At the Tenant's expense to keep all the interior of
 PROPERTY IN               the Property including the flooring and interior
 REPAIR                    plaster or other finishes or rendering to walls,
                           floors and ceilings and the Landlord's fixtures
                           therein including all doors, windows, plumbing and
                           sanitary apparatus, electrical installations and
                           wiring in good, clean tenantable repair and
                           condition and properly preserved and painted
                           (reasonable wear and tear excepted) and so to
                           maintain the same at the expense of the Tenant and to
                           deliver up the same to the Landlord at the expiration
                           or sooner determination of the Term in like condition
                           except as aforesaid.

TO BE RESPONSIBLE      (5) To be wholly responsible for any loss, damage or
 FOR INTERIOR              injury caused to any person whomsoever directly or
 DEFECTS                   indirectly through the defective or damaged
                           condition of any pan of or any installation in the
                           Property caused by any act or default of the Tenant
                           and to make good the same by payment or otherwise and
                           to indemnify the Landlord against all actions,
                           proceedings, claims, and demands made upon the
                           Landlord in respect of any such loss, damage or
                           injury and all costs and expenses incidental thereto.

TO REPLACE GLASS       (6) To replace at the Tenant's own expense any glass in
                           any doors or windows of the Property that may become
                           broken, from whatever cause, during the tenancy.

TO ALLOW ACCESS        (7) To permit the Landlord and all persons authorised by
 TO LANDLORD               the Landlord upon notice and at all reasonable times
                           except in cases of emergency to enter (or in cases of
                           emergency or where the Landlord does not receive any
                           response from the Tenant within seven days of the
                           service of such notice to break and enter) the
                           Property to:-

                           (a) ascertain whether the Tenant's obligations under
                               and the conditions of this Agreement have been
                               observed and performed,

                           (b) view (and to open up floors and ceiling where the
                               same is required in order to view) the state of
                               repair and condition of the Property,

                           (c) take schedules or inventories of fixtures and
                               fittings and other items in the Property,

                           (d) carry out work or do anything whatsoever
                               comprised within the Landlord's obligations in
                               this Agreement Provided that any such opening-up
                               shall be made good by and at the cost of the
                               Landlord where the same reveals no breaches of
                               the terms or conditions hereof.

TO EXECUTE             (8) Forthwith to comply with any notice given by the

                                       2
<PAGE>   5
REPAIRS                     Landlord specifying any works or repairs which the
 ON NOTICE                  Tenant has failed to execute in breach of the terms
                            hereof Provided that if within fourteen days of The
                            service of such a notice the Tenant shall not have
                            commenced and be proceeding diligently with the
                            execution of the works or repairs specified or shall
                            fail to complete within one month (or any other
                            reasonable period stipulated by the Landlord), then
                            to permit the Landlord to enter the Property to
                            execute such works or repairs, and to pay to the
                            Landlord upon demand the cost of so doing and all
                            expenses (including any professional fees) incurred
                            by the Landlord.

NOT TO INJURE          (9)  Not to cut maim or injure or permit or suffer to be
 PROPERTY                   cut maimed or injured any doors, windows, walls,
                            beams, structural members or any part of the fabric
                            of the Property nor any of the plumbing or sanitary
                            apparatus or installations included therein, nor to
                            overload the floors, ceilings or walls of the
                            Property.

NOT TO ASSIGN          (10) Not to assign underlet or otherwise, part with the
                            possession of the Property or any part thereof in
                            any way whether by way of subletting lending sharing
                            or other means whereby any person or persons not a
                            party to this Agreement obtains the use or
                            possession of the Property or any part thereof
                            irrespective of whether any rental or other
                            consideration is given for such use or possession
                            and in the event of any such transfer sub-letting
                            sharing assignment or parting with the possession of
                            the Property (whether for monetary consideration or
                            not) this Agreement shall absolutely determine and
                            the Tenant shall forthwith vacate the Property on
                            notice to that effect from the Landlord, This
                            tenancy shall be personal to the Tenant itself and
                            without in any way limiting the generality of the
                            foregoing the following acts and events shall unless
                            approved in writing by the Landlord be deemed to be
                            breaches of this Sub-Clause:-

                            (a) In the case of a tenant which is a partnership
                                the taking in of one or more new partners
                                whether on the death or retirement of an
                                existing partner or otherwise.

                            (b) In the case of a tenant who is an individual
                                (including a sole surviving partner of a
                                partnership) the taking up of the tenancy upon
                                the death, insanity or other disability of that
                                individual by the executors administrators
                                personal representatives next-of-kin trustees or
                                committee of any such individual, or the
                                admission of a new partner or partners.

                            (c) In the case of a tenant which is a corporation
                                any take-over by other company or persons,
                                amalgamation, merger,

                                       3
<PAGE>   6
                                reconstruction or liquidation of the Tenant
                                itself.

                            (d) The giving by the Tenant of a Power of Attorney
                                or similar authority whereby the donee of the
                                Power obtains the right to use possess occupy or
                                enjoy the same.

                            (e) The change of the Tenant's business name or
                                nature of business without the previous written
                                consent of the Landlord which consent shall not
                                be unreasonably withheld.

NOT TO PRODUCE         (11) Not to produce or permit or suffer to be produced
 NOTICE                     any music, noise (including sound produced by
                            broadcasting or any apparatus or equipment capable
                            of producing reproducing receiving or recording
                            sound) so as to be a nuisance or annoyance to the
                            Landlord or to occupiers of other premises or in the
                            neighbourhood or in anywise against the laws or
                            regulations of Hong Kong.

NOT TO CAUSE           (12) Not to do or permit or suffer to be done any act or
 NUISANCE                   thing, which may be or become a nuisance or
                            annoyance to the Landlord or to the tenants or
                            occupiers of other premises in the neighbourhood.

INDEMNITY              (13) To indemnify the Landlord against all actions costs
                            claims and demands made upon or against the Landlord
                            in respect of damage to the person or property of
                            any person caused by or through or arising out of
                            any breach, non-observance, non-performance and
                            non-compliance by the Tenant of any of the terms,
                            conditions and covenants subject to and under which
                            the Property is held.

NOT TO STORE           (14) Not to keep or store or permit or suffer to be kept
 DANGEROUS GOODS            or stored on or in the Property any arms ammunition
                            gunpowder saltpetre kerosene or other explosive or
                            combustible or hazardous goods or substance.

USER                   (15) Not to use or permit or suffer to be used the
                            Property for any purpose other than the Permitted
                            use.

PROHIBITED USES        (16) Not to use or permit or suffer the Property to be
                            used for any illegal or immoral purpose.

VITIATING              (17) Not to do or permit or suffer to be clone in the
 INSURANCE                  Property anything which may avoid any policy or
                            policies of insurance in respect of the Property or
                            increase any premium payable for the same and to
                            indemnify the Landlord against all loss and damage
                            suffered in consequence of any breach of this
                            sub-clause and to pay to the Landlord any increase
                            in the insurance premium attributable

                                       4
<PAGE>   7
                            to the Property by a breach of this sub-clause such
                            payment of increased premium to be made by the
                            Tenant on demand and recoverable as rent in arrear.

INSURANCE              (18) (a) To effect and maintain during the currency of
                                this tenancy insurance cover in respect of the
                                following and on terms set out hereunder :-

                                (i)   Third Party In respect of third party
                                      liability of the landlord and liability
                                      for loss injury or damage to any person or
                                      property whatsoever caused through or by
                                      any act default or neglect of the Tenant
                                      which might give rise to a claim for
                                      indemnity pursuant to Clause 3(13) hereof;

                                (ii)  Any glass in the windows doors and
                                      partition now or hereafter on or in the
                                      Property for its full replacement value;

                                (iii) Water Damage
                                      Against damage to stock fixtures and
                                      fittings for the full insurable value
                                      occurring in respect of the use or misuse
                                      of the fire sprinkler system installed
                                      within the Property or the incursion or
                                      water therein; and

                                (iv)  Tenant's Fittings
                                      The Tenant's fittings and equipment within
                                      the Property against fire and extraneous
                                      perils for their full replacement value.

                            (b) The policy or policies of such insurance shall
                                be effected with an insurance company duly
                                registered with the Insurance Authority under
                                the Insurance Companies Ordinance, Chapter 41 of
                                the Laws of Hong Kong subject to the prior
                                approval of the Landlord which approval shall
                                not be unreasonably withheld and further
                                endorsed to show the Landlord as joint insured
                                and the said policy or policies of insurance
                                shall contain a clause to the effect that the
                                insurance cover thereby effected and the terms
                                and conditions thereof shall not be cancelled
                                modified or restricted without the prior consent
                                of the Landlord. The Tenant hereby further
                                undertakes to produce to the Landlord as and
                                when required by the Landlord such policy or
                                policies of insurance together with a receipt
                                for the last payment of premium and a
                                certificate from the insurance company that the
                                policy is fully paid up and in all respects
                                valid and subsisting and to cause all monies
                                received by virtue of any such insurance to be
                                forthwith paid to the Landlord and that if the
                                Tenant shall at any time fail to keep the

                                       5
<PAGE>   8
                                Property insured as aforesaid the Landlord may
                                do all things necessary to effect and maintain
                                such insurance and any monies spent by the
                                Landlord for that purpose shall be repayable by
                                the Tenant on demand and be recoverable by the
                                Tenant on demand and be recoverable forthwith by
                                the Landlord by action.

NOT TO OBSTRUCT        (19) Not to encumber or obstruct or permit to be
 COMMON AREAS               encumbered or obstructed with any boxes, dustbins,
                            merchandise, goods, machines, articles, packaging or
                            obstruction of any kind or nature any of the
                            entrances, lifts, staircases, landings and passages,
                            lobbies or other parts of the Building or in any
                            place which is not hereby exclusively let to the
                            Tenant.

TO OBSERVE             (20) Not to do or suffer any act which shall amount to a
 OTHER DEEDS                breach or non-performance or non-observance of any
                            negative or restrictive covenant contained in the
                            Crown Lease or Conditions under which the ground
                            upon which the Building is erected is held from the
                            Crown or of any covenant term or condition contained
                            in the Deed of Mutual Covenant and the Management
                            Agreement (if any) and the House Rules (if any) in
                            respect of the Building.

TO PAY COST OF         (21) To pay to the Landlord on demand all costs incurred
 CLEARING DRAINS            by the Landlord in cleansing or clearing any of the
                            drains, pipes or sanitary or plumbing apparatus
                            choked or stopped up owing to the careless or
                            improper use or neglect by the Tenant or any
                            employee, agent or license of the Tenant.

TO PROTECT             (22) To take all reasonable precautions to protect the
 PROPERTY                   Property against damage by storm or typhoon or the
                            like.

TO PERMIT VIEWING      (23) To permit upon reasonable notice at any time during
                            the last three months of the Term (howsoever
                            determined) the Landlord and all persons authorised
                            by the Landlord including prospective purchasers and
                            tenants to view the Property without interruption.

TO PAY LANDLORD'S      (24) To pay all costs, charges and expenses (including
 COSTS                      any professional fees) incurred by the Landlord in
                            relation or incidental to:-

                            (a) any application by the Tenant for any licence or
                                consent under this Agreement (whether or not the
                                same be granted or refused or proffered subject
                                to any condition), and

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<PAGE>   9
                            (b) the recovery or attempted recovery of arrears of
                                rent or other sums due from the Tenant.

NOT TO ALTER           (25) Not to make or cause to make or connive at any
                            alterations structural to the Property and not to
                            put up any partition or other erection or
                            installation or electrical circuit on any pan of
                            the Property without the consent in writing of the
                            Landlord. In the Landlord shall give consent to such
                            alteration, partition  or erection it shall in any
                            event be subject to:-

                            (a) the condition that the Tenant shall not cause
                                any damage to the Property or any part thereof
                                in addition to such other conditions as the
                                Landlord shall think fit to impose; and

                            (b) also the condition that the prior approval or
                                consent is obtained from the Building Authority,
                                Fire Services Department, Labour Department or
                                any other relevant authority for such alteration
                                or partition.

NOT TO USE AS          (26) Not to use or allow to be used the Property or any
 DOMESTIC                   part thereof to prepare any food or as sleeping
 PREMISES                   quarters or as domestic premises and not to allow
                            any person to remain in the Property overnight
                            except the Tenant's night watchman.

NOT TO EXHIBIT         (27) (a) Not to exhibit or display any signboard,
 OR DISPLAY                     name-plate, advertisement, or other device
 SIGNBOARD                      whether illuminated or not which shall cause
                                nuisance to other person or trespass upon other
                                people's property on or in the Property.

                            (b) Subject to sub-clause (c) hereinafter following
                                not to put up any signboard other than that of a
                                suitable sign showing the Tenant's trading name
                                and business.

                            (c) Not to affix or put up or display any signboard,
                                sign, decorations or other thing whatsoever
                                outside the Property or any door wall pier or
                                window except with the approval of the Landlord.
                                The Landlord shall have absolute discretion in
                                granting or refusing such approval and any
                                approval to be granted shall be subject to such
                                conditions as the Landlord may think fit. The
                                Tenant shall upon demand of the Landlord remove
                                any signboard, sign or decoration approved to be
                                put up upon the termination of this tenancy
                                agreement. The landlord may remove any such
                                signboard, sign or decoration if the Tenant
                                refuses so to do, in which event, the Tenant
                                shall indemnify the Landlord all loss and
                                expenses thus incurred. The Tenant shall pay the
                                Landlord immediately

                                       7
<PAGE>   10
                                upon demand the reasonable costs incurred by the
                                Landlord in affixing repairing or replacing as
                                necessary the Tenant's name in lettering or
                                characters upon the appropriate directory boards
                                in or on the Building. The Landlord shall have
                                the right to remove at the cost and expense of
                                the Tenant any signboard, sign, decoration or
                                thing which shall be affixed put up or displayed
                                without the prior approval of the Landlord.

TO YIELD UP            (28) At  the  expiration or sooner determination of this
                            Agreement to deliver up to the Landlord vacant
                            possession of the Property in its original state and
                            in good and tenantable state of repair and condition
                            (fair wear and tear excepted) and all the keys of
                            the Property together with any additional fixtures,
                            fittings, erections alterations or improvements
                            which the Tenant may with the consent of the
                            Landlord as aforesaid have made upon or in the
                            Property without payment of any compensation for
                            such additional erections alterations or
                            improvements Provided Always that the Landlord may
                            at the expiration or sooner determination of this
                            Agreement on giving reasonable notice require the
                            Tenant to remove such additional fixtures, fittings,
                            erections, alterations or improvements at the cost
                            and expense of the Tenant.

TO COMPLY WITH         (29) At the Tenant's expense to comply in all respects
 LAWS                       with the provisions and requirements of the
                            Buildings Ordinance, Chapter 123 and the Town
                            Planning Ordinance, Chapter 31 or any statutory
                            modification or re-enactment thereof for the time
                            being in force and any regulations or orders made
                            thereunder relating to the use or occupation by the
                            Tenant hereunder and to indemnify (as well after the
                            expiration of the Term by effluxion of time or
                            otherwise as during its continuance) and to keep the
                            Landlord indemnified against all liability
                            whatsoever including costs and expenses in respect
                            of any contravention thereof.

NOT TO OBSTRUCT        (30) Not to block up darken or obstruct or obscure any
 LIGHT                      windows or lights belonging to the Property without
                            having obtained the express written consent of the
                            Landlord which consent may be given subject to such
                            conditions as the Landlord may in its absolute
                            discretion impose.

DELIVERY OF            (31) Not to take delivery of furniture equipment fittings
 FURNITURE ETC              or bulky items in and out of the Building during the
                            hours specified in the PARTICULARS hereto and under
                            no circumstances to use passenger lifts for goods
                            delivery purposes at any time.

                                       8
<PAGE>   11
EXCLUSION OF           (32) Not to hold the Landlord liable in any way to the
 LANDLORD'S                 Tenant or to any person whomsoever in respect of any
 LIABILITY                  injury damage or loss of business or other liability
                            whatsoever which may be suffered by the Tenant or by
                            any other person or any property howsoever caused
                            and in particular, but without limitation, caused by
                            or through or in any way owing to:-

                            (a) any interruption of any of the services herein
                                mentioned by reason of the demolition or
                                rebuilding or refurbishing of the Building or
                                any part thereof the necessary repair or
                                maintenance of any installations or apparatus or
                                damage thereto or destruction thereof by fire
                                water act of God or other cause beyond the
                                Landlord's control or by reasons of mechanical
                                electrical or other defect or breakdown or other
                                inclement conditions or unavoidable shortage of
                                fuel materials water or labour or any cause
                                whatsoever beyond the Landlord's control, or

                            (b) the act neglect or default of the Tenants and
                                occupiers of any other parts of the Building and
                                their employees agents licensees and invitees,

                            (c) any defect in the supply of electricity or from
                                any surge reduction variation interruption or
                                termination in the supply of electrical power,
                                or

                            (d) any typhoon landslide subsidence of the ground
                                escape of fire leakage or water or electric
                                current from the water pipes or electric wiring
                                cables or ducts situate in upon or in any way
                                connected with the Building or any part thereof
                                or dropping or falling of any article object or
                                material whatsoever including cigarette ends,
                                glass or tiles, the escape of water, fire or
                                electricity or vibrations from any floor office
                                or premises forming part of the Building or in
                                the neighbourhood.

                            (e) the defective or damaged condition of the
                                Premises (save and except inherent structural
                                defects) or the Landlord's fixtures therein or
                                any part thereof.

LANDLORD'S          4. The Landlord hereby agrees with the Tenants as follows:-
 OBLIGATIONS TO
 PAY GOVERNMENT        (1)  To pay the Government rent and Property Tax
 RENT QUIET                 attributable to or payable in respect of the
 ENJOYMENT                  Property.

                       (2)  That the Tenant paying the Rent as aforesaid and
                            observing and performing the agreements stipulations
                            terms and conditions herein contained and on the
                            Tenant's part to be observed and performed shall
                            peaceably hold and enjoy the Property during the
                            Term without any interruption by the Landlord or any

                                       9
<PAGE>   12
                            person lawfully claiming under or in trust for the
                            Landlord.

TO REPAIR              (3)  To maintain and keep the main structure of the
 EXTERIOR                   Property and every part of such  main  structure in
                            proper and tenantable repair and condition (except
                            the doors and windows) PROVIDED that:-

                            (a) The Landlord's liability hereunder shall not be
                                deemed to have arisen unless and until written
                                notice of any want of repair of the same shall
                                have been previously given by the Tenant to the
                                Landlord and the Landlord shall have failed to
                                take steps to repair the same AFTER the lapse of
                                a reasonable time.

                            (b) Notwithstanding anything to the contrary as
                                contained in this clause it shall be the
                                responsibility and liability of the Tenant to
                                repair and make good at its own expense all
                                defects, want of repair and damages caused by
                                the act default neglect or omission of the
                                Tenant and all persons authorized or permitted
                                by the Tenant to use the Property.

                            (c) The Landlord shall not be required to repaint or
                                whitewash any external part of the Property
                                unless required to do so by any Government
                                Authorities or under the Deed of Mutual Covenant
                                relating to the Property.

TO REPAIR ROOF         (4)  To amend and repair such defects (not attributable
 ETC                        to the act of the Tenant or its invitees licensees
                            servants or agents) to the roof main electricity
                            supply cables main drains and water pipes main walls
                            and exterior window frames of the Building and the
                            lifts and central air-cooling and heating plant
                            therein as the Landlord shall discover or as the
                            Tenant or other authorized person or Authority shall
                            by notice in writing bring to the attention of
                            the Landlord and to maintain the same in a
                            proper state of repair and condition at the cost of
                            the Landlord PROVIDED that the Landlord shall be
                            entitled to be given a reasonable period of time
                            within which to view any such defects and to amend
                            and repair the same and PROVIDED further that the
                            Landlord shall be liable neither to pay compensation
                            to the Tenant in respect of any period during which
                            due to circumstances beyond the control of the
                            Landlord the proper operation of the said lifts
                            central air-cooling and heating plant or any of them
                            shall be interrupted as the result of mechanical
                            failure or need for repair or overhaul nor to grant,
                            any abatement of rent or service change in respect
                            of such interruption.

TO SUPPLY              (5)  Subject to Clauses 3(32) and 4(4) hereof to provide
 AIR-CONDITIONING           and maintain for the Premises a central air-
                            conditioning service during the hours and on the
                            days specified in the PARTICULARS hereto

                                       10
<PAGE>   13
                            PROVIDED that the electric power for any fan-coil
                            air-cooling and circulating units installed within
                            or exclusively for the use of the Premises shall be
                            connected to the Tenant's electricity supply meter
                            and the Tenant shall pay direct to the supply
                            authority or undertaker for the electric power
                            consumed thereby and provided further that the
                            Tenant shall permit the Landlord and its servants
                            accredited agents or contractors access to the
                            Premises at all reasonable times after due prior
                            notice for the purpose of carrying out necessary
                            maintenance repair or replacement of any air-
                            conditioning plant and equipment installed within
                            the Premises by the Landlord.

OTHER               5. IT IS HEREBY EXPRESSLY AGREED as follows:-
 STIPULATIONS
 RE-ENTRY ON           (1)  If at any time during the Term:
 DEFAULT
                            (a) the rent hereby agreed to be paid or any part
                                thereof shall be unpaid for fourteen days after
                                the same shall become payable (whether legally
                                or formally demanded or not), or

                            (b) the Tenant shall fail or neglect to observe or
                                perform any of the agreements, stipulations
                                terms and conditions herein contained and on the
                                Tenant's part to be observed and performed, or

                            (c) the Tenant (being an individual) shall become
                                bankrupt or (being a corporation) shall go into
                                liquidation whether compulsory or voluntary
                                (save the voluntary liquidation of a solvent
                                company for the purposes of amalgamation or
                                reconstruction) or otherwise become insolvent or
                                make any composition or arrangement with
                                creditors or shall suffer any execution to be
                                levied on the Property or otherwise on the
                                Tenant's goods, then and in any such case it
                                will be so, will for the Landlord at any time
                                thereafter to re-enter the Property or any part
                                thereof in the name of the whole whereupon this
                                tenancy shall absolutely case and determine but
                                without prejudice to any right of action of the
                                Landlord in respect of any outstanding breach or
                                non-observance or non-performance of any of the
                                agreements, stipulations, terms and conditions
                                herein contained and on the Tenant's part to be
                                observed and performed to the Landlord's right
                                to deduct all loss damage and proper expense
                                thereby incurred from the Deposit paid by the
                                Tenant in accordance with clause 7 hereto.

INTEREST ON            (2)  If the Rent or any other sum payable by the Tenant
 ARREARS                    to the Landlord under this Agreement shall not be
                            paid after becoming due the same shall be payable
                            with interest thereon at the

                                       11
<PAGE>   14
                            rate per annum of 2% above the prime for me time
                            being from the date when it was due to the date on
                            which it is actually paid.

NOTICE OF RE-          (3)  A written notice served by the Landlord on the
 ENTRY                      Tenant in manner hereinafter mentioned to the effect
                            that the Landlord thereby exercises the power of
                            re-entry herein contained shall be a full and
                            sufficient exercise of such power without actual
                            physical entry on the part of the Landlord.

NON-WAIVER             (4)  Acceptance of rent by the Landlord or any act
                            omission or acquiescence on the pan of the Landlord
                            shall not be deemed to operate as a waiver by the
                            Landlord of any right to proceed against the Tenant
                            in respect of any breach non-observance or
                            non-performance of the agreements stipulations terms
                            and conditions herein contained and on the Tenant's
                            part to be observed and performed.

LANDLORD NOT           (5)  (a) The Landlord shall not be under any liability
 LIABLE FOR                     whatsoever to the Tenant or any member of the
 DAMAGE                         Tenant's family or any servant, licensee, agent,
                                visitor, guest, customer, or invitee of the
                                Tenant's, or any person claiming any right title
                                or interest under the Tenant:-

                                (i)   for the payment of any claim for
                                      compensation arising out of the operation
                                      of this Agreement or any provision hereof;
                                      or

                                (ii)  for any damage or injury which may be
                                      sustained by the Tenant or by any such
                                      person or persons as aforesaid on account
                                      of the defective or damaged condition of
                                      the Property or the Landlord's fixtures
                                      therein or any lift or any pan thereof and
                                      in particular the Landlord shall not be
                                      responsible to the Tenant or any person or
                                      persons as aforesaid for any damage caused
                                      by or through or in anywise owing to any
                                      typhoon leakage of water or electric
                                      current from the water pipes or electric
                                      wiring or cable situated upon or in anyway
                                      connected with the Property unless such
                                      damage shall result from the breach by the
                                      Landlord of one or more obligations hereby
                                      imposed after notice requiring compliance
                                      shall have been given and there shall not
                                      have been compliance within a reasonable
                                      time.

                                       12
<PAGE>   15

                            (b) For the security or safekeeping of the Property
                                or nearly therein and in particular but without
                                prejudice to the generality of the foregoing the
                                provision by the Landlord of watchmen and
                                caretakers or any mechanical or electrical
                                systems of alarm of whatsoever nature if any
                                shall not create any obligation on the part of
                                the Landlord as to the security of the Property
                                or any contents therein and the responsibility
                                for the safety of the Property or any contents
                                therein shall at all times rest with the Tenant.

ACTS OF TENANT'S       (6)  For the purposes of this Agreement any act, default
 AGENTS                     neglect or omission of any guest, visitor, servant,
                            agent, licensee or invitee of the Tenant shall be
                            deemed to be the act, default, neglect or omission
                            of the Tenant.

ARREARS                (7)  The rent and air-conditioning and management charges
                            payable in respect of the Property shall be and be
                            deemed to be in arrear if not paid in advance at the
                            times and in manner herein provided for payment
                            thereof.

NOTICES FOR            (8)  During the three months immediately preceding the
 RE-LETTING                 expiration of the Term (or sooner if the rent or any
                            part thereof shall be in arrear and unpaid for
                            upwards of one calendar month) the Landlord shall be
                            at liberty to enter the Property and affix and
                            maintain without interference upon any external part
                            of the Property a notice stating that the Property
                            is to be let or sold and such other information in
                            connection therewith as the Landlord shall
                            reasonably require.

SERVICE OF             (9)  Any notice required to be served hereunder shall, if
 NOTICES                    to be served on the Tenant, be sufficiently served
                            if addressed to the Tenant and sent by prepaid post
                            to or delivered at the Property or the Tenant's last
                            known place of business or residence in Hong Kong
                            and, if to be served on the Landlord shall be
                            sufficiently served if addressed to the Landlord and
                            sent by prepaid post to or delivered at the
                            Landlord's last known place of business or residence
                            in Hong Kong. A notice sent by post shall be deemed
                            to be given at the time and date of posting.

COSTS AND              (10) (a) All Landlord's costs of the preparation of and
 STAMP DUTY                     incidental to this Agreement shall be borne by
                                the Landlord and the Tenant in equal shares.

                            (b) The stamp duty on this Agreement and its
                                counterpart and registration fees (if any) shall
                                be borne by the Landlord and the

                                       13
<PAGE>   16
                                Tenant in equal shares.

NO WARRANTY            (11) Nothing in this Agreement or in any consent granted
 OF USER                    by the Landlord under this Agreement shall imply or
                            warrant that the Property may be used for the
                            purpose herein authorised (or any purpose
                            subsequently authorised) under any legislations or
                            statutory regulations.

SALE OF                (12) If after the Tenant has vacated the Property at the
 UNCLAIMED                  expiration or sooner determination of the Term any
 ARTICLES                   effect or article of the Tenant remains in or on the
                            Property, and the Tenant fails to remove it within
                            seven days after being requested by the Landlord so
                            to do, or if after using its best endeavours the
                            Landlord is unable to make such a request to the
                            Tenant within fourteen days from the first attempt
                            so made by the Landlord:

                            (a) the Landlord may as the agent of the Tenant sell
                                or otherwise dispose of such effect or article,
                                provided that the Tenant will indemnify the
                                Landlord against any liability incurred by the
                                Landlord having not of any such sale or
                                disposition or to any third party whose effect
                                or article shall have been sold by the Landlord
                                in the bona fide mistaken belief (which shall be
                                presumed unless the contrary be proved) that
                                such effect or article belonged to the Tenant
                                and that all costs and expenses of and
                                incidental to any such sale or disposition shall
                                be borne by the Tenant and be first deducted
                                from the proceeds of sale or disposition,

                            (b) if the Landlord having made reasonable efforts
                                is unable to locate the Tenant the Landlord
                                shall be entitled to retain the said proceeds of
                                sale or disposition absolutely unless the Tenant
                                shall claim the same within three months of the
                                date upon which the Tenant vacated the Property,
                                and

                            (c) the Tenant shall indemnify the Landlord against
                                any damage occasioned to the Property or the
                                Building or any adjacent or neighboring premises
                                of the Landlord and any actions, claims,
                                proceedings, costs, expenses and demands made
                                against the Landlord caused by or related to the
                                presence of the effect or article in or on the
                                Property.

STATE OF PROPERTY      (13) The Tenant shall take the Property in its present
 KEY MONEY                  decorative repair and condition.

                       (14) The Tenant hereby expressly declares that it has
                            paid no premium, construction key money or other sum
                            of money of a similar nature to the Landlord or
                            other person or persons authorised by the Landlord
                            for the possession of the Property or

                                       14
<PAGE>   17
                            for the granting of this tenancy.

NEW TENANCY            (15) Any acceptance of rent by the Landlord on or after
                            expiration, of the Term shall not create any new
                            tenancy or renewal or extension of the existing
                            tenancy unless written agreement has been signed
                            between the parties hereto to show otherwise.

ABATEMENT OF        6. Should the Property or part thereof be rendered unfit for
 RENT                  use and occupation by any cause not attributable to the
                       negligence or default of the Tenant, the Rent or part
                       thereof proportionate to the part unfit for use and
                       occupation shall abate and cease to be payable until the
                       Property shall have been again rendered fit for
                       occupation and if already paid shall be refunded by me
                       Landlord to the Tenant without interest until the
                       Property shall again be rendered fit for habitation and
                       use. Provided that nothing heroin shall impose on the
                       Landlord any obligation to repair or reinstate the
                       Property or any part thereof and if the Property shall
                       not be repaired or reinstated within a period of three
                       months from the time when the Property shall be rendered
                       unfit for habitation the Tenant or the Landlord may
                       terminate the Agreement in which event the Tenant shall
                       deliver up vacant possession of the Property of the
                       Landlord and notwithstanding any statutory provision to
                       the contrary neither party shall have any claim against
                       the other of them for damages compensation or otherwise
                       apart from rights of action already accrued before such
                       termination of this Agreement.

PAYMENT OF          7. The Tenant shall on the signing hereof pay to and
 DEPOSIT               maintain at all times during the Term with the Landlord
                       the Deposit to secure the due observance and performance
                       by the Tenant of the agreements stipulations terms and
                       conditions herein contained and on the Tenant's part to
                       be observed and performed. The Deposit shall be retained
                       by the Landlord throughout the Term flee of any interest
                       to the Tenant with power for the Landlord, without
                       prejudice to any other right of remedy hereunder to
                       deduct therefrom the amount of any cost expense loss or
                       damage repayment of deposit sustained by the Landlord as
                       a result of any non-observance or non-performance by the
                       Tenant of any such agreements stipulations terms or
                       conditions. Subject as aforesaid and to clause 8 hereof,
                       the Deposit shall be refunded to the Tenant by the
                       Landlord within fourteen days after the expiration or
                       sooner determination of the Term and the delivery of
                       vacant possession of the Property to the Landlord or
                       within fourteen days of the settlement of the last
                       outstanding claim by the Landlord against the Tenant in
                       respect of any breach, non-observance or nonperformance
                       of any of the agreements, stipulations terms or
                       conditions and on the part of the Tenant to be observed
                       and performed whichever is the later.

WAIVER OF CLAIM     8. (1)  It is agreed and declared that if at any time during
 FOR DEPOSIT                the Term the Landlord shall assign the

                                       15
<PAGE>   18
                             Landlord's interest in the reversion immediately
                             expectant upon the Term and if the Landlord shall
                             also transfer to the assignee of the reversion the
                             Deposit or such part thereof as is then held by the
                             Landlord under this Agreement, forthwith upon such
                             transfer of the Deposit or such part there, of as
                             aforesaid and provided that a notice containing
                             particulars of the same shall have been served on
                             the Tenant the Landlord shall be absolutely
                             discharged and exonerated from the Landlord's
                             obligation to refund the Deposit to the Tenant
                             contained in clause 7 hereof and the Tenant shall
                             waive all its rights and claims hereunder against
                             the Landlord in respect of the Deposit.

                        (2)  The Tenant hereby irrevocably consents and
                             authorizes such transfer of the Deposit or such
                             part thereof as aforesaid and undertakes and agrees
                             to enter into an agreement in such form, with such
                             party or parties and at such time as the Landlord
                             may reasonably require to give better effect to the
                             provisions of sub-clause (a) above.

WAIVER OF CLAIM     9.  The Tenant hereby expressly waives its right (if any) to
 AGAINST                claim against the Mortgagee for the return of all rental
 MORTGAGEE              deposit paid by the Tenant hereunder in the event of the
                        Mortgagee entering into possession of the Property in
                        exercise of its rights and powers conferred on the
                        Mortgagee by the Charges registered in the Land Registry
                        by Memorials Nos. 3606359, 4343022 and 4823933.

SUBJECT TO          10. The making of this Tenancy Agreement is subject to the
 MORTGAGEE'S            written consent or approval of the Landlord's existing
 CONSENT                mortgagee(s).

RENT FREE PERIOD    11. The Landlord agrees that no Rent or any part thereof
                        shall be paid by the Tenant during the Rent Free Period
                        and the Tenant shall only be responsible for payment of
                        the Government Rates, Management Charge and Air
                        Conditioning Charges during the Rent Free Period.

LANDLORD'S          12. Upon the signing of this Agreement, the Landlord shall
 UNDERTAKING            Undertaking arrange the clean up work and repairs of the
                        air-conditioning units inside the Property to be carried
                        out and shall pay the costs of such clean up and repairs
                        work.

     AS WITNESS the hands of the parties hereto on the date specified as the
Date of Agreement in the Particulars.



SIGNED by Zhang Yuxin, director,            )
for and on behalf of the Landlord           )
in the presence of :-                       )      /s/ Zhang Yuxin
                                                   ---------------


        /s/ [illegible]
        ---------------

                                       16
<PAGE>   19
SIGNED by Chu Wai Man, director,            )
for and on behalf of the Tenant             )
in the presence of :-                       )      /s/ Chu Wai Man
                                                   ---------------


        /s/ Chow Siu Nam
        ----------------



RECEIVED on the date stated on the                      )
Date of Agreement in the particulars written            )
of and from the Tenant the sum of                       )
HONG KONG DOLLARS NINETY SIX                            )
THOUSAND NINE HUNDRED AND                               )
FIFTEEN ONLY-------------------------------             )  HK$96,915.00
being the security deposit above expressed              )
to be paid by the Tenant to the Landlord                )


WITNESS to the signature:-

                                       17
<PAGE>   20


                      DATED the 1lth day of January , 2001


                               CHINASOUND LIMITED


                                       and


                          SUPPLY CHAIN SERVICES LIMITED



                                ----------------

                        T E N A N C Y  A G R E E M E N T


           relating to 5th Floor on Guangdong Textile Centre,

              Nos. 22, 24 and 26, Minden venue, Kowloon, Hong Kong.

                                ----------------



                          S. K. LAM, ALFRED CHAN & CO.,
                             Solicitors & Notaries,
                       202, Dina House, Ruttonjee Centre,
                           11 Duddell Street, Central,
                                    Hong Kong
                              Ref: S/S/TEN:C4456/00
                           Doc: PARTICULARS-GUANGDONG5