Exhibit 10.20

Our reference number: 00112C603


8th December, 2006


Private &
Confidential


Atlantic Components Ltd.

824-B27, 1/F., Block B, Proficient Industrial Centre

6 Wang Kwun Road, Kowloon Bay

Kowloon


Attn.: Mr. Kenneth Chan


Dear Sirs,


	
 

	
 


	
Re : 

	
Credit Facilities granted to


	
 

	
Atlantic Components Ltd. (the “Borrower”)


	






We are pleased to inform you as the Borrower that the
credit facilities (the “Facilities”) currently maintained by you with The Bank
of East Asia, Limited (the “Bank”) have been renewed as follows:-


	
 

	
 

	
 

	
 

	
 

	
 


	
(1)

	
L/C + T/R + Invoice Financing Loan (IFL) + O/D Limit

 (Within which O/D not to exceed HK$300,000.-)

	
 

	
HK$18,000,000.-


	
 

	
 

	
 

	
 

	
 

	
 


	
 

	
-

	
for the opening of your sight or usance Letters of
 Credit.

	
 

	
 


	
 


	
 

	
-

	
for the refinancing of your import bills.

	
 

	
 


	
 

	
 

	
Tenor : 60 days

	
 

	
 


	
 

	
 

	
Interest Rate :

	
 

	
 


	
 

	
 

	
HKD T/R : the Bank’s Best Lending Rate or HIBOR;

	
 

	
 


	
 

	
 

	
                 whichever
 the higher is applicable.

	
 

	
 


	
 

	
 

	
Other currencies T/R : at other currencies’ LIBOR +

	
 

	
 


	
 

	
 

	
 

	
 2% p.a.

	
 

	
 


	
 

	
-

	
for invoice financing of your import bills. 

	
 

	
 


	
 

	
 

	
Tenor : 45 days

	
 

	
 


	
 

	
 

	
Interest Rate :

	
 

	
 


	
 

	
 

	
HKD IFL : the Bank’s Best Lending Rate or HIBOR;

	
 

	
 


	
 

	
 

	
                 whichever
 the higher is applicable.

	
 

	
 


	
 

	
 

	
Other currencies IFL : at other currencies’ LIBOR +

	
 

	
 


	
 

	
 

	
 

	
 2% p.a.

	
 

	
 





.../2


The Bank of East Asia, Limited

31st Floor, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Telephone (852) 3608 6888 Facsimile (852) 3608 6000 Telex HX 73017

www.hkbea.com






Page 2


Atlantic Components Ltd.


	
 

	
 

	
 


	
 

	
-

	
for normal overdraft.


	
 


	
 

	
 

	
Interest Rate : the Bank’s Best Lending Rate + 0.5%
 p.a. 


	
 

	
 

	
                       or
 HIBGR + 0.5% p.a.; whichever the 


	
 

	
 

	
                       Higher
 is applicable


	
 


	
 

	
-

	
for amount in excess of the O/D limit.


	
 


	
 

	
 

	
Interest Rate : the Bank’s Best Lending Rate + 8% p.a.


	
 

	
 

	
                       or
 HIBQR + 8% p.a.; whichever the higher


	
 

	
 

	
                       is
 applicable.








	
 

	
 

	
 

	
 

	
 


	
(2)

	
Corporate Tax Loan

	
 

	
HK$1,000,000.-


	
 

	
(Outstanding balance as at 8/12/2006)

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
 

	
-

	
original loan amount HK$1,000,000.-

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
(3)

	
 

	
Additional Charges

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
 

	
-

	
Additional interest will be charged on all overdue
 import and export bills/loans transactions according to our Scale of Charges
 on Bills: Transactions and is subject to change from time to time.

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
(4)

	
Other Condition

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
 

	
The aggregate outstanding of L/C + T/R + IFL for
 suppliers other than Samsung Electronics Hong Kong Co. Ltd. should not exceed
 HK$13,000,000.-.

	
 

	
 


	
 

	
 

	
 

	
 

	
 


	
 

	
 

	
 

	


	



	
 


	
Total credit facilities:

	
 

	
HK$19,000,000.-


	
 

	


	



	
Securities:

	
 

	
 


	
 

	
 

	
 


	
(1)

	
Charge over Time Deposit for HK$10,126,901.30 or its
 equivalent and all interests thereon to be executed by the Borrower; and


	
 


	
(2)

	
Continuing Guarantee to be signed jointly and
 severally by Mr. Wong Ben and Mr. Yang Chung Lun (collectively the
 “Guarantor”) for an unlimited amount covering the credit facilities extended
 to Atlantic Components Ltd.





.../3


The Bank of East Asia, Limited

31st Floor, BEA Tower, Millennium City 5, 418 Kwun Tong, Road, Kwun Tong, Kowloon, Hong Kong

Telephone (852) 3608 6888 Facsimile (852) 3608 6000 Telex HX 73017







Page 3


Atlantic Components Ltd.


Availability: 


The granting of
the Facilities is subject to the following conditions:


	
 

	
 


	
(1)

	
all the necessary formalities
 specified by the Bank are completed; and


	
 

	
 


	
(2)

	
all the required legal documents, in
 particular those relating to the Securities detailed above, are executed to
 the satisfaction of the Bank.





Undertakings :


The Borrower
undertakes to the Bank throughout the whole term of the Facilities and so long as any
sum remains owing hereunder that :


	
 

	
 


	
(1)

	
The Borrower will deliver to the
 Bank its audited financial statements as soon as available and in any event
 within 180 days after the end of each of its financial years; and


	
 

	
 


	
(2)

	
The Borrower will deliver to the
 Bank certified true copy of its updated Business Registration Certificate
 within 14 days rafter its expiry.





To comply with section 21 of the
Code of Banking Practice, your Consent is hereby given to our providing to
any guarantor or provider of security in respect of any loan or credit facilities extended to you the following: 


	
 

	
 


	
(1)

	
a copy of the contract evidencing the
 obligations to be guaranteed or secured or a summary thereof;


	
 

	
 


	
(2)

	
a copy of any formal demand for
 overdue payment which is sent to you after you have failed to settle an
 overdue amount following a customary reminder; and


	
 

	
 


	
(3)

	
form time to time on request by the guarantor or provider
 of security, a copy of the latest
 statement of account provided to you.





This offer
must be accepted within one month from the date hereof, after which, it shall automatically
lapse unless extended. Please indicate your acceptance of the aforementioned
terms by signing and returning the enclosed duplicate of this letter to Mr. Marco Hoo
of our Enterprise Lending Department at 38th Floor, BEA Tower,
Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon on or
before 7th January, 2007 together with a certified
true copy of the resolution of four board of directors accepting the terms of
this letter and the Facilities.


.../4


The Bank of East Asia, Limited

31st Floor, BEA Tower, Millennium City
5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Telephone (852) 3608 6888 Facsimile
(852) 3608 6000 Telex HX 73017






Page 4


Atlantic Components Ltd.  


The credit
facilities will be subject to review in February, 2007 and review fee may be collected
upon its renewal.


Notwithstanding
anything contained in this letter, the Facilities are subject to the Bank’s
overriding right of repayment on demand, to review, amend and/or cancel any or all of the
said Facilities at its sole discretion. Moreover, this letter, when accepted by you, will
supersede and cancel all of our previous offers of credit facilities.


We hope that
you will make active use of these Facilities and we assure you of our best service at
all times.


Should you have
any query to this letter, please feel free to contract Mr. Marco Hoo at 3608
1017.


	
 

	
 


	
Yours faithfully,

 For and on
 behalf of

 The Bank of East Asia, Limited

	
 


	
 

	
 


	


	



	
 

	
 


	
HO Ngar
 Yee

 Credit Administration Manager

	
CHIU Kwok Hing

 Senior Credit Administration Manager





Trade and Loan
Services Department 

Operations Support Division


.../5


The Bank of East Asia, Limited

31st Floor, BEA Tower; Millennium City 5,
418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Telephone (852) 3608 6888 Facsimile
(852) 3608 6000 Telex HX 73017






Page 5


Atlantic Components Ltd.


The Borrower


We hereby agree to and accept all the above terms and
conditions.


For and on behalf of

Atlantic Components Ltd.


	
 

	
 

	
 


	
 

	


	
 


	
 

	


	
 


	
 

	
Authorized Signature(s)

	
 


	
 

	
 

	
 


	


	
 


	
[with company chop and
 authorised signature(s)]


	
Date :

	
 





The
Guarantor


I hereby acknowledge and accept
all the above terms and conditions.


	
 

	
 

	
 

	
 


	
     

	
 

	
    

	
 


	


	
 

	


	
 


	
Wong Ben

	
 

	
Yang Chung Lun

	
 


	
[HKID No.: E787623(1)]

	
 

	
[HKID No.: G664732(3)]

	
 


	
Date :

	
 

	
Date :

	
 





The Bank of East Asia,
Limited

31st Floor, BEA Tower, Millennium City 5, 418 Kwun, Tong Road, Kwun Tong,
Kowloon, Hong Kong

(ILLEGIBLE)