<PAGE>
                                                                    EXHIBIT 4.7

                   [SHANGHAI COMMERCIAL BANK LTD. LETTERHEAD]


------------
                                                               27TH MARCH, 2002
J.I.C. ENTERPRISES (HK) LTD.
15/F., China Merchants Tower, Shun Tak Centre,
168-200 Connaught Road Central,
Hong Kong

Attn: MR. LI SHI YUEN JOSEPH / MR. CHUI KAM WAI
      -----------------------------------------

Dear Sirs,

                            Re : Banking Facilities
                            -----------------------

      We refer to your loan application and are pleased to confirm our
readiness to extend to you our loan facility on the terms and conditions as
follows:-

      1.  Borrower : J.I.C. Enterprises (HK) Ltd.

      2.  LOAN AMOUNT : USD4,500,000.00, subject to our overriding right of
                        adjustment as stated hereunder

      3.  INTEREST RATE : Chargeable at 3-month LIBOR Rate plus 1.5%p.a.
                          (maximum chargeable at 7.5%), subject to changes at
                          our discretion

      4.  Terms : USD4,500,000.00 is to be repaid by 16 quarterly instalments
                  of USD281,250.00 each plus accrued interest, commencing on
                  the ending day of the first quarter after the loan drawdown
                  date.

      5.  Guarantor : Nam Tai Electronics, Inc.

      6.  LOAN FEE : 0.125% on loan amount

      7.  Prepayment : The Borrower(s) may prepay the whole or part of Loan
                       WITHOUT PENALTY subject to the following :

                       a) Not less than 7 days' prior written notice should be
                          given by the Borrower(s) to the Bank

                       b) Any partial prepayment shall not be of less than
                          USD10,000.00 equivalent or any whole multiple of that
                          sum

      8.  OVERDUE INTEREST : The overdue payment is subject to overdue interest
                             charged at 4%p.a. above the loan interest rate,
                             subject to changes at our discretion

      9.  Right of Set Off : In the event of default of the Borrower(s), the
                             Bank has the right to set off any credit balance
                             in other accounts held by the Borrower(s) against
                             the amount due to us by the Borrower(s) solely or
                             jointly with other person(s)

      10. Availability Period Of This Offer :
                             3 months from the date of this letter unless
                             further extension is agreed by us in writing; an
                             undrawn fee of 0.5%p.a. will be charged upon
                             expiry of the availability period on the undrawn
                             portion of the above loan amount being committed.


                                      (1)
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                   [SHANGHAI COMMERCIAL BANK LTD. LETTERHEAD]


J.I.C. ENTERPRISES (HK) LTD.                                  27TH MARCH, 2002
HONG KONG


     We reserve our overriding right to demand for immediate repayment of all
outstanding principal and interest against default payment on any of your loan
instalment(s).

     Please note that Section 83 of the Banking Ordinance imposes certain
limitations on our bank in granting various facilities or advances to
persons/companies related to our directors or employees. If you fall
within such category of persons/companies or should you fall
within such category in the future, PLEASE ADVISE US AS SOON AS POSSIBLE, and in
the absence of such advice we will assume that you are not so related.

     We enclose herewith a general information on our loans services for your
reference.

     Please note that this offer will lapse unless we receive from you the
attached copy of this letter signed by you to signify your understanding and
acceptance of the above terms and conditions within 7 DAYS from the date of
this letter.

     Thanking you for your kind attention,

                                              Yours faithfully,


                                   /s/ Vincent C.M. NG     /s/ Tony K.K. WAT
                                   Vincent C.M. NG         Tony K.K. WAT
                                   Sub-Accountant          Manager

Encl.

BORROWER'S ACCEPTANCE
---------------------
WE, THE UNDERSIGNED, HEREBY ACCEPT THE TERMS
AND CONDITIONS OF THE LOAN OFFERED IN THIS LETTER.



/s/ [Illegible]
----------------------------------
J.I.C. ENTERPRISES (HK) LTD.

KKW/VN/kt


                                      (2)
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                   [SHANGHAI COMMERCIAL BANK LTD. LETTERHEAD]


                                                                11TH APRIL, 2002


J.I.C. ENTERPRISES (HONG KONG) LIMITED
15/F., China Merchants Tower,
Shun Tak Centre,
168 - 200 Connaught Road Central,
Hong Kong


Attn : MR. LI SHI YUEN JOSEPH / MR. CHUI KAM WAI
       -----------------------------------------


Dear Sirs,


       As requested, we hereby confirm that we agree to accept a new Corporate
Guarantee to be executed by J.I.C. Technology Company Limited in our favour in
replacement of the Corporate Guarantee duly executed by Nam Tai Electronics,
Inc. in our favour for the purposes of granting banking facilities to J.I.C.
Enterprises (Hong Kong) Limited upon new listing of J.I.C. Technology Company
Limited in the main board of the Stock Exchange in Hong Kong.

       This part will form an integral part of our Banking Facilities Letter
dated on March 27, 2002 to J.I.C. Enterprises (Hong Kong) Limited. There will
be no other change on the terms and conditions of the banking facilities letter
except the replacement of guarantor by J.I.C. Technology Company Limited.

       Thank you for your kind attention,

                                              Yours faithfully,


                                   /s/ Vincent C.M. NG     /s/ Tony K.K. WAT
                                   Vincent C.M. NG         Tony K.K. WAT
                                   Sub-Accountant          Manager


KKW/VN/kt