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10.15 Real Estate Lease dated June 10, 2002 between JTC Corporation and
      Trio-Tech International PTE for Block 1004 Toa Payoh North #02-08/10.


JTC(L)3729/199 Temp 5                                  DID: 68833427
                                                       FAX: 68855899
                                                       Email: yeekwan@jtc.gov.sg

10 June 2002

TRIO-TECH INTERNATIONAL PTE LTD
Blk 1008 Toa Payoh North
#03-09
Singapore 318996                                         BY LUM

(Attn: Ms Betty Ang)

Dear Sirs

PROPERTY TAX REBATE AND SPECIAL RENTAL PACKAGE IN RESPECT OF THE FACTORY SPACE
KNOWN AS PRIVATE LOT A4551(u) AT BLOCK 1004 TOA PAYOH NORTH #02-08 TO #02-10 TOA
PAYOH INDUSTRIAL ESTATE SINGAPORE 318995

1    We refer to our letter of offer of tenancy for the above mentioned
     premises.

2    In response to the current economic condition, we will reduce, as an off
     budget measure, the security deposit from 3 months to 2 months to ease cash
     flow, credit lines and reduce business costs. This measure is only
     available to companies on GIRO.

3    We are pleased to inform you that subject to your valid acceptance of our
     offer, you will enjoy

     .    a 3 % property tax rebate effective from 1 Jul 2001 to 31 Dec 2002
     .    a 30 % reduction in the stamp duty payable effective from 13 Oct 2001
          to 31 Dec 2002

     4    Our Statement of Account in the Letter of Offer of tenancy has
          reflected the above reduction in property tax, security deposit and
          the stamp duty. Please be informed that the reduction in property tax,
          security deposit and stamp duty do not vary any other terms or
          stipulations in the Letter of Offer and the Memorandum of Tenancy.

     5    Please contact me should you need further clarifications.


Yours faithfully

/s/: Ang Yee Kwan

ANG YEE KWAN
MARKETING DEPARTMENT
INDUSTRIAL PARKS DEVELOPMENT GROUP
JTC CORPORATION

Attd

<PAGE>

JTC(L)3729/199 Temp 5

                                                       DID: 68833427
10 June 2002                                           FAX: 68855899
                                                       Email: yeekwan@jtc.com.sg

TRIO-TECH INTERNATIONAL PTE LTD
Blk 1008 Toa Payoh North
#03-09
Singapore 318996                                       BY LUM

(Attn: Ms Betty Ang)

Dear Sirs,

OFFER OF TENANCY FOR FLATTED FACTORY SPACE

1    We are pleased to offer a tenancy of the Premises subject to the following
     covenants, terms and conditions in this letter and in the annexed
     Memorandum of Tenancy ("the Offer"):

     1.01 Location:

          Pte Lot A4551(u), Blk 1004 ("the Building") Toa Payoh North #02-08 to
          #02-10, Toa Payoh Industrial Estate Singapore 318995 ("the Premises")
          as delineated and edged in red on the plan attached to the Offer.

     1.02 Term of Tenancy:

          3 years ("the Term") with effect from 16 August 2002 ("the
          Commencement Date").

     1.03 Tenancy Agreement:

          Upon due acceptance of the Offer in accordance with clause 2 of this
          letter, you shall have entered into a tenancy agreement with us ("the
          Tenancy") and will be bound by the covenants, terms and conditions
          thereof.

          In the event of any inconsistency or conflict between any covenant,
          term or condition of this letter and the Memorandum of Tenancy, the
          relevant covenant, term or condition in this letter shall prevail.

     1.04 Area:

          Approximately 274.90 square metres (subject to survey).

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     1.05 Rent and Service Charge:

          For Discounted Rent:

          (a)  Discounted rate of Dollars $12.61 per square metre per month for
               so long as the Tenant shall occupy by way of tenancy an aggregate
               floor area of 1000 square metres in the Building or in the
               various flatted factories belonging to the Landlord, and

          (b)  Normal rate of Dollars $13.00 per square metre per month in the
               event that the said aggregate floor area occupied is at any time
               reduced to below 1000 square metre (when the discount shall be
               totally withdrawn) with effect from the date of reduction in the
               said aggregate floor,

          ("Rent") to be paid without demand and in advance without deduction on
          the 1st day of each month of the year (i.e. 1st of January, February,
          March, etc.). The next payment shall be made on I September 2002.

          Service charge:

          $2.10 per square metre per month, ("Service Charge") as charges for
          services rendered by us, payable without demand on the same date and
          in the same manner as the Rent, subject to our revision from time to
          time.

     1.06 Security Deposit/Banker's Guarantee:

          You will at the time of acceptance of the Offer be required to place
          with us a deposit equivalent to 3 months' Rent (at the discounted
          rate) and Service Charge ("Security Deposit") as security against any
          breach of the covenants, terms and conditions in the Tenancy.

          The Security Deposit may be in the form of cash and/or acceptable
          Banker's Guarantee in the form attached (effective from 16 June 2002
          to 15 November 2005) and/or such other form of security as we may in
          our absolute discretion permit or accept.

          The Security Deposit must be maintained at the same sum throughout the
          Term and shall be repayable to you without interest or returned to you
          for cancellation, after the termination of the Term (by expiry or
          otherwise) or expiry of the Banker's Guarantee, as the case may be,
          subject to appropriate deductions or payment to us for damages or
          other sums due under the Tenancy.

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          If the Rent at the discounted rate is increased to the normal rate or
          Service Charge is increased or any deductions are made from the
          Security Deposit, you are to immediately pay the amount of such
          increase or make good the deductions so that the Security Deposit
          shall at all times be equal to 3 months' Rent and Service Charge.

     1.07 Mode of Payment:

          [Note: You have an existing account with us from which we will deduct
          the aforesaid payments. You are therefore not required to submit a
          duly completed GIRO form as part of the Mode of Acceptance herein
          unless you wish to have a separate GIRO account to meet the aforesaid
          payments.]

     1.08 Permitted Use:

          (a)  Subject to clause 1.12 of this letter, you shall commence full
               operations within four (4) months of the Commencement Date for
               the purpose of burn in services only and for no other purpose
               whatsoever ("the Authorised Use").

          (b)  Thereafter, you shall maintain full and continuous operations and
               use and occupy the whole of the Premises for the Authorised Use.

          (c)  Subject to clauses (a) and (b) above, you shall use and occupy at
               least sixty percent (60%) of the gross floor area of the Premises
               for industrial activities and ancillary stores, and use and
               occupy the remaining gross floor area, if any, for offices,
               neutral areas, communal facilities and such other uses as may be
               approved in writing by us and the relevant governmental and
               statutory authorities PROVIDED THAT you shall not use and occupy
               the Premises for the purpose of commercial office and storage
               unrelated to the Authorised Use.

     1.09 Approvals

          The Tenancy is subject to approvals being obtained from the relevant
          government and statutory authorities.

<PAGE>

1.10 Possession of Premises:

     (a)  Keys to the Premises will be given to you two (2) months prior to the
          Commencement Date subject to due acceptance of the Offer ("Possession
          Date").

     (b)  From the Possession Date until the Commencement Date, you shall be
          deemed a licensee upon the same terms and conditions in the Tenancy.

     (c)  If you proceed with the Tenancy after the Commencement Date, the
          licence fee payable from the Possession Date to the Commencement Date
          shall be waived ("Rent-Free Period"). Should you fail to so proceed,
          you shall:

          (i)   remove everything installed by you;
          (ii)  reinstate the Premises to its original state and condition; and
          (iii) pay us a sum equal to the prevailing market rent payable for the
                period from the Possession Date up to the date the installations
                are removed and reinstatement completed to our satisfaction,

          without prejudice to any other rights and remedies we may have against
          you under the Tenancy or at law.

1.11 Preparation and Submission of Plans:

     (a)  No alteration, addition, improvement, erection, installation or
          interference to or in the Premises or the fixtures and fittings
          therein is permitted without Building Control Unit [BCU(JTC
          Corporation)] prior written consent. Your attention is drawn to
          clauses 2.10 to 2.19 and 2.34 of the Memorandum of Tenancy.

     (b)  You will be required to prepare and submit floor layout plans of your
          factory and plans of the air-conditioning works in accordance with the
          terms of the tenancy and the `Guide' attached. It is important that
          you should proceed with the preparation and submission of the plans in
          accordance with the procedures set out in the said `Guide'.

     (c)  Should there be alteration of existing automatic fire alarm and
          sprinkler system installation, alteration plans shall be submitted to
          Building Control Unit [BCU(JTC Corporation)] for approval on fire
          safety aspects. All air-conditioning, fire alarm & sprinkler system
          plans must be signed by a relevant Professional Engineer, registered
          with the Professional Engineers Board of Singapore.

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     (d)  Upon due acceptance of the Offer, a copy of the floor and elevation
          plans (transparencies) will be issued to you to assist in the
          preparation of the plans required herein.

     (e)  No work shall commence until the plans have been approved by Building
          Control Unit [BCU(JTC Corporation)].

1.12 Final inspection:

     You shall ensure that final inspection by us of all installations is
     carried out and our approval of the same is obtained before any operations
     in the Premises may be commenced.

1.13 Special Conditions:

     (1)  Normal (Ground & Non-ground) Floor Premises

          You shall comply and ensure compliance with the following
          restrictions:

          (a)  maximum loading capacity of the goods lifts in the Building; and

          (b)  maximum floor loading capacity of 15.00 kiloNewtons per square
               metre of the Premises on the 2nd storey of the Building PROVIDED
               THAT any such permitted load shall be evenly distributed.

          We shall not be liable for any loss or damage that you may suffer from
          any subsidence or cracking of the ground floor slabs and aprons of the
          Building.

     (2)  Option for renewal of tenancy:

          (a)  You may within 3 months before the expiry of the Term make a
               written request to us for a further term of tenancy.

          (b)  We may grant you a further term of tenancy of the Premises upon
               mutual terms to be agreed between you and us subject to the
               following'.

               (i) there shall be no breach of your obligations at the time you
               make your request for a further term;

               (ii) our determination of revised rent, having regard to the
               market rent of the Premises at the time of granting the further
               term, shall be final;

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                    (iii) we shall have absolute discretion to determine such
                    covenants, terms and conditions, but excluding a covenant
                    for renewal of tenancy-, and

                    (iv) there shall not be any breach of your obligations at
                    the expiry of the Term.

          (3)  Third Party Rights:

               A person who is not a party to the Tenancy shall have no right
               under the Contracts (Rights of Third Parties) Act (as amended or
               revised from time to time) to enforce any of its covenant, term
               or condition.

2.   Mode of Acceptance:

     The Offer shall lapse if we do not receive the following by 15 June 2002:-

     .    Duly signed letter of acceptance (in duplicate) of all the covenants,
          terms and conditions in the Tenancy in the form enclosed at the
          Appendix.
          (Please date as required in the Appendix)

     .    Payment of the sum set out in clause 4.

     .    Duly completed GIRO authorization form.

3.   Please note that payments made prior to your giving us the other items
     listed above may be cleared by and credited by us upon receipt. However, if
     the said other items are not forthcoming from you within the time
     stipulated herein, the Offer shall lapse and there shall be no contract
     between you and us arising hereunder. Any payments received shall then be
     refunded to you without interest and you shall have no claim of whatsoever
     nature against us.

<PAGE>

4.   The total amount payable is as follows:

                                                Amount                  +3 % GST
Rent at $12.61 psm per month on
274.90 sqm for the period 16 August
2002 to 15 September 2002                $ 3,466.49

Less:
3% Off-budget Property Tax Rebate
(valid from 01/07/2001 to 31/12/2002)    $   103.99
                                         ----------
                                         $ 3,362.50

Service Charge at $2.10 psm per
month on 274.90 sqm for the period 16
August 2002 to 15 September 2002         $   577.29    $ 3,939.79        $118.19
                                         ----------

Deposit equivalent to three (3) months'
rent and service charge (or Banker's
Guarantee provided in accordance with
sub-paragraph 1.06 above)                $12,131.34

Less:
Deposit equivalent to one (1) month's
rent and service (Off-budget Measure)    $ 4,043.78    $ 8,087.56
                                         ----------

Stamp fee payable on Letter of
Acceptance which will be stamped by
JTC Corporation on your behalf                         $   273.00

Sub-Total Payable                                      $12,300.35        $118.19

Add: GST @ 3%                                          $   118.19
---                                                    ----------

Total Payable inclusive of GST                         $12,418.54
                                                       ==========


5.   Rent-Free Period:

     As the Commencement Date will not be deferred, we advise you to accept the
     Offer as soon as possible and to collect the keys to the Premises on the
     scheduled date in order to maximize the Rent-Free Period referred to in
     clause 1.10(c) of this letter.

<PAGE>

6.   Variation to the Tenancy

     This letter and the Memorandum of Tenancy constitute the full terms and
     conditions governing the Offer and no terms or representation or otherwise,
     whether express or implied, shall form part of the Offer other than what is
     contained herein. Any variation, modification, amendment, deletion,
     addition or otherwise of the covenants, terms and conditions of the Offer
     shall not be enforceable unless agreed by both parties and reduced in
     writing by us.

7.   Car-Parking Scheme:

     (a)  The car park for 1311k 1004 Toa Payoh North is currently managed by
          P-Parking International Pte Ltd and you will have to observe and be
          bound by all the rules and regulations governing the use and operation
          of the car park. You are requested to contact:

          P-Parking International Pte Ltd
          736B Geylang Road
          Singapore 389647
          Contact person: Mr Johnson Tan
          Tel: 67494119

          on your use of the car park.

     (b)  The Corporation shall not be liable for any loss, damage, injury,
          liabilities, claim or action you may sustain or suffer in the use of
          the car park and the tenants shall fully indemnify the Corporation
          against any loss, claims, penalties, demands, damage arising from the
          private management and operations of the car park by the P-Parking
          International Pte Ltd.

8.   Application for Approvals, Utilities etc.

     Upon your acceptance of the covenants, terms and conditions of the Offer,
     you are advised to proceed expeditiously as follows:

     8.01 Preliminary Clearance:

          Comply with the requirements of the Chief Engineer (Central Building
          Plan Unit), Pollution Control Department and/or other departments
          pursuant to your application/s for preliminary clearance. (Please note
          that we have referred your application to the relevant department/s),

     8.02 Discharge of Trade Effluence:

          Complete the attached Application for Permission to Discharge Trade
          Effluent into Public Sewer and return the application form direct to
          the Head, Pollution Control Department, Ministry of Environment,
          Environment Building, 40 Scotts Road. Singapore 228231 (Telephone No.
          67327733).



<PAGE>

     8.03 Electricity:

          Engage a registered electrical consultant or competent contractor to
          submit three sets of electrical single-line diagrams to and in
          accordance with the requirements of our Property Support Department
          (PSD~, Customer Services Group, JTC East Zone Office for endorsement
          before an application is made to the Power Supply Pte Ltd to open an
          account for electricity connection. Please contact our Property
          Support Department (PSD) at Blk 25 Kallang Avenue #05-01 Kallang Basin
          Industrial Estate Singapore 339416 direct for their requirements.

     8.04 Water:

          Submit four copies of sketch plans, prepared by a licensed plumber,
          showing the section and layout of the plumbing, to our Building
          Control Unit [BCU (JTC Corporation)] for approval prior to the issue
          of a letter to Water Conservation Department, Public Utilities Board
          to assist you in your application for a water sub-meter.

     8.05 Telephone:

          Apply direct to Singapore Telecommunications Ltd for all connections.

     8.06 Automatic Fire Alarm System (incorporating Heat Detector)

          Engage a registered electrical consultant/professional engineer to
          submit two sets of fire alarm drawings, indicating the existing
          fixtures if any, the proposed modifications of the fire alarm and the
          layout of machinery, etc to and in accordance with the requirements of
          our Building Control Unit [BCU (JTC Corporation)]. Please contact our
          Building Control Unit [BCU (JTC Corporation)] at The JTC Summit,
          One-Stop Centre (1st level) 8 Jurong Town Hall Road Singapore 609434
          direct for further requirements.

     8.07 Factory Inspectorate

          Complete and return direct to Chief Inspector of Factories the
          attached form, "Particulars to be submitted by occupiers or Intending
          Occupiers of Factories".

Yours faithfully


/s/: Ang Yee Kwan
-----------------
ANG YEE KWAN
MARKETING DEPARTMENT
INDUSTRIAL PARKS DEVELOPMENT GROUP
JTC CORPORATION

Encl