exv4w35



 





EXHIBIT 4.35




Loan Agreement




Borrower (Party A): Jetup Electronic (Shenzhen) Co., Ltd.

Address: Sanyidui Industrial Zone, Zhoushi Road, Jiuwei Village, Xixiang Town, Bao’an District,

Shenzhen, People’s Republic of China, (Post code: 518102)

Legal representative (person in charge): Ivan Chui




Lender (Party B): J.I.C. Technology Company Limited

Address: Century Yard, Cricket Square, Hutchins Drive, P.O.Box 2681 GT, George Town, Grand Cayman,

Cayman Islands, British West Indies

Legal representative (person in charge): Ivan Chui




Foreword





	1.	 	Party A signed External Loan Agreement (“Former Loan Agreement”) with Party B on Mar. 31,
2005, Party B agreed to lend external loan with the amount not more than HKD 50,000,000 to
Party A, the term of the loan was from Apr. 1, 2005 to Mar. 31, 2006. External loan under the
Former Loan Agreement has been fully repaid.
	 
	2.	 	To meet the demand of liquid funds(including daily operating expense), Party A borrowed
another external loan (“Loan Agreement”) from Party B with the amount of HKD 10,500,000, and
the term of the loan was from Nov. 7, 2005 to Nov. 6, 2006.
	 
	3.	 	Life of certain loan was extended from Nov.7, 2006 to Nov. 6, 2007 in November 2006.
	 
	4.	 	In consideration of the expiration of the term of the external loan agreement, the term of
certain loan is extended from Nov. 7, 2007 to Nov. 6, 2008 in accordance with the negotiation
of both parties.




Having reached unanimity through consultation and negotiation, Party A and Party B, hereby agree to
enter into the following Agreement to be abided by both parties.




Article 1 Amount of Loan



Party A borrowed from Party B with (capitalized) HK Dollars Ten Million and Five Hundred Thousand
Only.




Article 2 Use of Loan



The loan shall be used to meet the demand of liquid funds under the trade account, including daily
operating expense, of Party A.




Article 3 Term of Loan



The term of the loan agreed hereby is one year, i.e. from Nov. 7, 2007 to Nov. 6, 2008.




Article 4




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The annual percentage rate of the loan hereunder is 0% (interest free).




Article 5 Repayment




1. Repayment principle



In principle, the borrower shall repay the whole amount on the date of expiration in case it has
adequate capital, or Party A may choose to repay by installments according to capital conditions;
the loan may be extended through discussion.




2. Repayment method



The repayment shall be transferred by bank telegraph.




3. Prepayment



Party B agrees that Party A may repay the loan at any time in case it has adequate capital.




Article 6



This Agreement shall take effect from the date of being signed and sealed by the legal
representative (person in charge) or authorized agent of Party A and person in charge or authorized
agent of Party B.




Article 7




This Agreement is executed in triplicates. It shall be terminated automatically after the principal
is repaid by Party A.




Article 8



This Agreement is in line with the laws of the People’s Republic of China, and shall be performed
according to Hong Kong laws as well.




Party A (seal): Jetup Electronic (Shenzhen) Co., Ltd.

Legal representative (person in charge) or authorized agent (signature):




Original signature of Mr. Chui Kam Wai




Date: Nov.6, 2007




Party B (seal): J.I.C. Technology Company Limited

Person in charge or authorized agent (signature):




Original signature of Mr. Chui Kam Wai




Date: Nov.6, 2007





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