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                                                                    EXHIBIT 2.5

Agreement made January 11, 1999



Between:
                            Nam Tai Electronics, Inc.

                                                                        ("NTEI")

And:
                                Edward K. W. Chan

                                                                        ("Chan")


         WHEREAS NTEI wishes to retain Chan to negotiate a resolution of a
dispute between it and Price Waterhouse (Hong Kong) regarding the statement of
account submitted by Price Waterhouse (Hong Kong) and the services performed by
Price Watehouse (Hong Kong), in connection with the Albatronics project.

                  NOW THEREOFE the parties agree as follows:

         1.       Chan will travel to Hong Kong and engage in settlement
                  discussions with Price Waterhouse (Hong Kong) regarding the
                  Price Waterhouse (Hong Kong) statement of account and the
                  services rendered by them, in connection with the Albatronics
                  project and potential litigation between NTEI and Price
                  Waterhouse (Hong Kong).


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         2.       In connection with all trip expenses, NTEI will provide Chan
                  with a non-refundable allowance of $6,000 (CDN).

         3.       NTEI will provide to Chan a non-refundable payment of
                  $250,000.00 (CDN) in connection with the matter described in
                  paragraph 1 hereof.

         4.       Chan will not enter into any agreement with Price Waterhouse
                  (Hong Kong) on behalf of NTEI in connection with the matter
                  described in paragraph 1 hereof or any other matters, without
                  first obtaining the consent of NTEI to the agreement.

         5.       Chan will be paid an additional amount of $50,000.00 (CDN) if
                  he is able to negotiate, on behalf of NTEI, an agreement with
                  Price Waterhouse (Hong Kong) which results in NTEI paying to
                  Price Waterhouse (Hong Kong) at most $500,000.00 (HK)
                  inclusive of all monies already paid by NTEI or any subsidiary
                  company, in connection with the statement of account rendered
                  by Price Waterhouse (Hong Kong) regarding the Albatronics
                  project.

         6.       Chan will be responsible for paying all taxes and other moneys
                  which may be owed to any Governmental jurisdiction in
                  connection with the payments described in paragraphs 2, 3 and
                  5 of this Agreement. Chan hereby agrees to indemnify NTEI and
                  all the other Companies in the Nam Tai Group and all of their
                  directors, officers, employees and agents with respect to any
                  taxes or other moneys which may be claimed by a


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                  Governmental jurisdiction with respect to the payments
                  described in paragraph 2, 3 and 5 of this Agreement.

7.                In respect of payments described in paragraphs 2 and 3, NTEI
                  will wire transfer before Monday, January 18, 1999 at 5:00
                  p.m. Hong Kong time $256,000 (CND) to the following bank
                  account:

                  Standard Chartered Bank
                  Account Name: Chan Ka Hung
                  Account Number: 413-1-007511-2 Canadian dollar account

8.                It is agreed that the Termination Agreement (including the
                  resignation letter) between Chan and Nam Tai Electronics
                  (Canada) Ltd. dated January 11, 1999 shall be void if the
                  payments specified in paragraph 7 above are not made as
                  required.


IN WITNESS WHEREOF this Agreement has been executed by the parties hereto as of
the day, month and year first above written.


Nam Tai Electronics, Inc.
Per:


_____________________________________ 


SIGNED AND DELIVERED BY               )
EDWARD K. W. CHAN in the presence of: )
                                      )
_____________________________________                _________________________
Name                                  )                  Edward K. W. Chan
_____________________________________ )
_____________________________________ )
Address                               )
                                      )
_____________________________________ )
Occupation