exv4w54






Exhibit 4.54




Commercial
Banking — GP3, Major Team 
(CARM 080521)




	 	 	 
	CONFIDENTIAL
	 	 
	Nam Tai Electronic & Electrical Products Ltd
	 	 
	Suites 1506-1508 15/F
	 	 
	One Exchange Square
	 	 
	8 Connauht Place Central
	 	 
	Hong Kong

	 	2 June 2008






Attn: Ms Eve Leung




Dear Madam,




BANKING FACILITY

A/C NO. 502-495575-001



With reference to our recent discussion, we are pleased to advise that we have reviewed your
banking facility and offer a renewal within the following revised limit which will be made
available on the specific terms and conditions outlined herein. The Bank shall have an unrestricted
discretion to cancel or suspend, or determine whether or not to permit drawings in relation to, the
facility. This facility is subject to review at any time and in any event by 15 May 2009, and also
subject to the Bank’s overriding right of repayment on demand, including the right to call for cash
cover on demand for prospective and contingent liabilities.




	 	 	 	 	 
	 	 	New	 	Previous
	Corporate Card Facility

	 	HKD1,000,000.-
	 	HKD700,000.-
	Corporate Cards approved by us and
issued to your executives.
	 	 	 	 
	 
	 	 	 	 






The terms and conditions governing the Corporate Card
Facility are detailed in our HSBC Corporate Card
Programme — Employer’s Participation Agreement duly
signed by you.


Default Interest



Please note that interest will be payable on sums which are overdue, drawings which are in excess
of agreed limits and amounts demanded and not paid, at the maximum rate stipulated in the Bank’s
Tariff which is accessible at
http://www.commercial.hsbc.com.hk/1/2/commercial/customer-service/tariffs. The Bank will
provide you with a hard copy of the Tariff at your request. Interest at the applicable rate will
be payable monthly in arrears to the debit of your current account.




Accrual of Interest and Other Sums



Please note that interest and other sums expressed to be chargeable or payable on a periodic
basis will nonetheless accrue from day to day and amounts so accrued may be demanded at any time.




The Hongkong and Shanghai Banking Corporation Limited 

HSBC Main Building, 1 Queen’s Road Central, Hong Kong

Tel: (852) 2822 1111 Fax: (852) 2877 5442

Telex: 73205 HSBC HX Telegrams: Hongbank Hongkong

Web: www.hsbc.com.hk




Incorporated in the Hong Kong SAR with limited liability

Registered at the Hong Kong Companies Registry No. 263876




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	Nam Tai Electronic & Electrical Products Limited

	 	2 June 2008





Please note that all costs and expenses (including legal fees) incurred by us in connection with
the extension of this facility and any matters arising are to be reimbursed by you on demand.



This facility letter shall be governed by and construed in accordance with the laws of the Hong
Kong Special Administrative Region 

(“Hong Kong”). The parties hereto shall submit to the
non-exclusive jurisdiction of the courts of Hong Kong.



Please arrange for the authorised signatories of your company, in accordance with the terms of the
mandate given to the Bank, to sign and return to us the duplicate copy of this letter to signify your
continued understanding and acceptance of the terms and conditions under which this revised facility
is granted.



Unless expressed in writing from you to the contrary, we may provide any information relating to
any of your accounts with us and any facilties we may provide to you from time to time or their
conduct or any other information concerning your relationship with us to any other company or office
which at the relevant time belongs to or is part of the HSBC Group.



Unless expressly agreed otherwise by us, we may transfer all or any part of our obligations under
this facility letter or in respect of any of the facilities to any person by delivering to you a
notice in writing. Such transfer shall take effect as from the effective date specified in the
notice and we shall thereafter be released from such obligations.




Section 83 of the HK Banking Ordinance



Please note that Section 83 of the Banking Ordinance has imposed on us as a bank certain
limitations on advances to persons related to our directors or employees. In acknowledging this
Facility Letter you should advise us whether you are in any way related to any of our directors or
employees within the meaning of Section 83 and in the absence of
such advice we will assume that
you are not so related. We would also ask, should you become so
related subsequent to acknowledging
this facility letter, that you immediately advise us in writing.



This revised facility will remain open for acceptance until the close of business on 23 June 2008
and if not accepted by thate date will be deemed to have lapsed.



We are pleased to be of continued assistance.




	 	 	 
	Yours faithfully

	 	Accepted and signed by
	 
	 	 
	[signed]

	 	[Original signed by Karene Wong and Ivan Chui]
	 
	 	 
	 

	 	 
	Frederick Wong 

Senior Vice President

	 	Nam Tai Electronic & Electrical Products Limited
	 
	 	 
	/jlz
	 	 
	 
	 	 
	Encl
	 	 






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