Document:

Exhibit 4.21

                           [HANG SENG BANK LETTERHEAD]

Our Ref.: Commercial Banking - Relationship Management
Private & Confidential

Bonso Electronics Limited                                           8 April 2004
Unit 1106-1110 11/F
Star House
3 Salisbury Road
Tsimshatsui Kowloon

Attention: Mr. Anthony So
-------------------------

Dear Sirs

BANKING FACILITIES

With reference to our recent discussions, we are pleased to advise that we have
reviewed your banking facilities and offer you the under mentioned revised
limits (the "Facilities") which will be made available subject to the terms and
conditions outlined herein and satisfactory completion of the security detailed
below:

Facilities and Limits
---------------------

For establishment of documentary letters of                     HK$48,000,000.00
credit (LC) for your account in favor
of third parties and covering import of goods
in the ways acceptable to us and/or
acceptance of bills drawn thereunder, and/or

for trust receipt facility (TR) relating to
goods imported and financed under
our documentary letters of credit established
for your account, and/or

for purchase of documentary export DIP bills (DP)
drawn on parties acceptable to
us, and/or

for extension of export trade loans (ETL) to
finance your export of goods as
evidenced (HK$10,000,000.00) by your sale
invoices and any other relevant
documents as required, of which

for overdraft facility (OD) on your current                    (HK$5,000,000.00)
account No. 259-229698-001.

The aggregate amount owing under LC, TR, DP, ETL
and 0D facilities shall not
exceed HK$48,000,000.00 at anyone time.

<PAGE>

Bonso Electronics Limited

Negotiation of discrepant documents, secured or
unsecured by goods, presented under HK$15,000,000.00
export letters of credit issued by banks acceptable to
us.

For establishment of Stand-by Letters of Credit (SBLC)          EUR$1,900,000.00
for your account in favor of third parties and
covering services and/or other performances in the ways
acceptable to us and/or acceptance of bills drawn thereunder.

Term Loan outstanding balance under AlC No. 272-826769.         US$306,666.71

Term Loan. (For detailed terms and conditions                   HK$5,000,000.00
applicable to this facility, please refer
to Appendix 1 which also forms an integral part
of this letter.)

Security
--------

Unlimited Deed of Guarantee already executed by Bonso Electronics International
Inc. (the" Guarantor") in our favour.

Interest
--------

(i) Interest on financed bills/loans shall be charged at 2% per annum above
30/60/90/120 days LlBOR (London Interbank Offered Rate) for foreign currencies
transactions or at 2% per annum above 30/60/90/120 days HIBOR (Hong Kong
Interbank Offered Rate) for Hong Kong Dollar transactions, subject to market
availability, as shall be quoted by Hang Seng Bank Limited on the first day of
the relevant interest period. Interest on loans will be payable on monthly
basis.

(ii) Interest on the overdraft facility shall be charged at 0.5% per annum over
the Hong Kong Dollars Prime Lending Rate as quoted by us from time to time with
monthly rests and subject to fluctuation at our discretion.

Reimbursement of Payment under Stand-by Letter of Credit
--------------------------------------------------------

You undertake to reimburse us immediately on demand all amounts of claims under
Stand-by letter of credit issued for your account. Any amount not reimbursed by
you to us shall bear interest at the rate stipulated in "Default Interest"
clause mentioned hereunder.

                                                                               2
<PAGE>

Bonso Electronics Limited

Tenor
-----

Maximum loan tenor for import loans will be 120 days.

Fee
---

A non-refundable facility review fee of HK$30,000.00 shall be payable by you to
us upon acceptance of the Facilities and thereafter a review fee in such amount
as we may prescribe from time to time shall be payable upon each review of the
Facilities. We are authorised to debit the current account maintained by you
with us for the facility review fee upon receipt of your acceptance of the
Facilities as mentioned in this letter and in all subsequent reviews.

Default Interest
----------------

Notwithstanding the provisions above for the charging of interest, all sums
(whether principal, interest, fees, charges or otherwise) due but unpaid in
respect of the Facilities shall bear interest at such rate from time to time
determined by us at our absolute discretion.

Set-off
-------

We may, at any time and without notice, apply and set-off any credit balance to
which you are entitled on any account with us or any other moneys owed by us to
you in or towards satisfaction of any obligations owing to us by you. For this
purpose, we are authorised to purchase, at our prevailing exchange rate, such
other currencies as may be necessary to effect such application with the moneys
standing to the credit of such account or to effect conversion of one currency
into another in any other manner.

Expenses
--------

All expenses, legal or otherwise, if any, in connection with the Facilities are
to be borne by you.

Taxes
-----

All payments of principal and interest on amounts due under the Facilities shall
be made free and clear of all present and future taxes, withholdings of any
nature whatsoever.

                                                                               3

<PAGE>

Bonso Electronics Limited

Governing Law
-------------

These Facilities are subject to the laws of Hong Kong Special Administrative
Region with non-exclusive jurisdiction of Hong Kong Special Administrative
Region Courts.

Others
------

(i) You and the Guarantor shall provide us with certified copies of the annual
audited accounts within 6 months following the end of each financial year and
such other relevant financial information as we shall from time to time
reasonably request.

(ii) We may from time to time at our absolute discretion and without prior
notice to or consent from you, impose further charges and fees which may be
chargeable on facilities of the same type and change the terms of the existing
and future charges and fees, including the rate thereof.

Notwithstanding anything to the contrary hereinbefore contained, we shall not be
bound to grant any of the Facilities at all or beyond such sum as we may at our
sole discretion consider safe to the intent that we retain the absolute right to
withdraw, suspend and/or reduce from time to time the Facilities or any of them
and/or the extent of any of the Facilities for so long and to or in such amount
as we may at our sole discretion deem fit without prior notice to or consent
from you.

The Facilities are subject to our usual review annually and at any time as well
as our customary overriding right of repayment on demand and are subject to our
right to call for cash cover on demand for prospective and contingent
liabilities.

Kindly sign and return to us the duplicate of this letter together with the
attached "Extracts from the Minutes of a Meeting of the Board of Directors" to
indicate your acceptance of this credit facility arrangement by 8 May, 2004 and
if not accepted by that date, unless extended by us at our sole and absolute
discretion, will be deemed to have lapsed. All other security documentation
required, if any, under the Facilities must be executed to our complete
satisfaction within thirty days from the date of this letter, failing which the
Facilities are subject to withdrawal or revision at our absolute discretion.

Our Insurance Agency Department offers a full range of insurance services and
will be pleased to quote you competitive rates on fire, marine and other
coverages upon your request. Should you require further information, please feel
free to contact Mr. Yeung Tung, Manager, Marketing at 2198 4960.

Should you have any queries, please do not hesitate to contact our Miss Sarah
Lau at 21984103.

                                                                              4.

<PAGE>

Bonso Electronics Limited

We trust that you will make active use of the Facilities and are pleased to be
of continued assistance to you.

Yours faithfully

/S/

Donald Lam
Department Head, Relationship Management
Commercial Banking

/S/
Sarah Lau
Team Head, Relationship Management
Commercial Banking

                                                                               5

<PAGE>

Bonso Electronics Limited

                                   Appendix 1

This Appendix 1 refers to the Term Loan Facility (the "Facility") mentioned in
our facility letter dated 8 April 2004 (the "Facility Letter")and forms an
integral part thereof. All terms and conditions mentioned in this Appendix 1 are
in addition to and not in substitution of any terms and conditions mentioned in
the said facility letter.

Borrower                            :Bonso Electronics Limited

Lender                              :Hang Seng Bank Limited

Amount                              :HK$5,000,000.00
                                    Draw downs may be made in Hong Kong
                                    Dollar and/or United States Dollar
                                    at Borrower's selection, subject to
                                    availability as determined at the
                                    sole discretion of the Lender.
                                    Amounts drawn in one currency can
                                    not switch to another.

Purpose                             :For acquisition of machinery for expansion
                                    of production facilities.

Term/Final Maturity                 :3 years from the date of respective
                                    drawdown.

Availability Period                 :Subject to satisfactory completion of all
                                    required documentation, security and
                                    fulfillment of all other conditions
                                    precedent for drawdown as required by the
                                    Lender. In any event, drawdoen must be made
                                    on or before 28 February, 2005. Any undrawn
                                    amount at the end of the Availability Period
                                    shall be cancelled.

Drawdown                            :In Hong Kong Dollar
                                    --------------------
                                    On any business day (other than Saturday),
                                    throughout the Term, the Borrower can
                                    utilize the Facility by giving one business
                                    day's prior written notice to the Lender.
                                    Each drawdown should be in a minimum
                                    amount of HK$500,000.00 and in
                                    integral multiples of HK$100,000.00.

                                    :In United States Dollar
                                    ------------------------
                                    On any business day (other than Saturday),
                                    throughout the Term, the Borrower can
                                    utilize the Facility by giving two business
                                    days' prior written notice to the Lender.
                                    Each drawdown should be in a minimum
                                    amount of US$100,000.00 and in integral
                                    multiples of US$10,000.00.

                                    For the purpose of calculating the
                                    limit available for drawdown, all
                                    United States Dollar advance(s)
                                    shall be calculated as US$1.00 to
                                    HK$7.80.
                                                                               6
<PAGE>

Bonso Electronics Limited

Rate of Interest                    :In Hong Kong Dollar
                                    --------------------
                                    Interest shall be charged at 2.25%
                                    per annum over 1 month HIBOR(Hong
                                    Kong Interbank Offered Rate) as
                                    quoted by the Lender (the "Interest
                                    Rate") on the first day of each
                                    interest period, subject to market
                                    availability. Interest shall be
                                    calculated on the basis of the
                                    actual number of days elapsed and a
                                    365-day year and shall be payable in
                                    arrears on the last day of the
                                    relevant interest period.

                                    :In United States Dollar
                                    ------------------------
                                    Interest shall be charged at 2.25%
                                    per annum over 1 month LlBOR(London
                                    Interbank Offered Rate) as quoted by
                                    the Lender (the "Interest Rate") on
                                    the first day of each interest
                                    period, subject to market
                                    availability. Interest shall be
                                    calculated on the basis of the
                                    actual numberof days elapsed and a
                                    360-day year and shall be payable in
                                    arrears on the last day of the
                                    relevant interest period.

Interest Period                     :Interest Period shall be 30 days. Interest
and Payment                         shall be payable upon maturity of each
                                    Interest Period and debited to your current
                                    account no. 259-229698-001 maintained with
                                    the Lender. No Interest Period shall
                                    extend beyond the Final Maturity date.

Repayment                           :Each drawdown shall be repaid by 36
                                    equal monthly installments
                                    commencing 1 month after the date of
                                    respective drawdown. All sums which
                                    may become due to the Lender from
                                    time to time in respect of the said
                                    Facility (including but not limited
                                    to principal and interest) are to be
                                    debited to your current account no.
                                    259-229698-001 maintained with the
                                    Lender. Any amount repaid cannot be
                                    re-borrowed. Repayment must be made
                                    in same currency as drawdown.

Prepayment                          :Allowed in whole or in part on any
                                    interest payment date and the
                                    Borrower shall have given to the
                                    Lender at least 7 business days'
                                    prior written notice of any intended
                                    prepayment in accordance with any
                                    prepayment notice given. Amount
                                    prepaid cannot be reborrowed and
                                    shall be applied towards reduction
                                    of the repayment installments in
                                    inverse order of maturity.

Indemnity                           :The Borrower  shall  indemnify and hold
                                    harmless the Lender (by payment on demand to
                                    the Lender) from and against any and all
                                    reasonable losses, costs, charges, expenses
                                    (including legal expenses) and claims
                                    incurred in relation to the Facility or as a
                                    consequence of any default in payment of any
                                    amount payable hereunder or in  respect of
                                    the Facility and/or default in complying
                                    with or observing any other terms and
                                    conditions of this facility letter and/or
                                    the occurrence of any other event of default
                                    and/or failure to make a drawing after
                                    having given a notice of its intention to

                                                                               7

<PAGE>

Bonso Electronics Limited

                                    draw and/or making a prepayment
                                    otherwise than on the expiry date of
                                    the relevant interest period,
                                    including (but without limitation)
                                    all losses (including loss of
                                    margin), premiums, fees, charges and
                                    penalties incurred or to be
                                    reasonably incurred up to the date
                                    of prepayment in liquidating
                                    deposits or funds prior to the
                                    expiry of the relevant interest
                                    period or in re-employing deposits
                                    made by third parties or funds
                                    acquired to effect or maintain the
                                    loan under the Facility or any part
                                    thereof until the date of actual
                                    payment. The certificate of the
                                    Lender setting out the computation
                                    of, and basis for, any such losses,
                                    costs, charges, expenses and claims
                                    shall, in the absence of manifest
                                    error, be binding on the Borrower.

Default Interest                    :If the Borrower fails to pay any sum on the
                                    relevant due date for payment,
                                    the Borrower shall pay interest on
                                    such sum from the date of such
                                    failure up to the date of actual
                                    payment (as well after as before
                                    judgment) at the rate of 3% above
                                    the Interest Rate. So long as the
                                    failure continues the relevant rate
                                    of interest shall be recalculated on
                                    the same basis thereafter and shall
                                    be compounded at monthly intervals.

Documentation                       : (1) Acceptance of the facility Letter; and
                                    (2) 'Undertaking for Repayment' for
                                    the Facility and "Board Resolution"
                                    in form and substance acceptable to
                                    the Lender to be executed by the
                                    Borrower.

                               - End of Appendix 1

                                                                              8.

<PAGE>

Bonso Electronics Limited

We trust that you will make active use of the Facilities and are pleased to be
of continued assistance to you.

Yours faithfully

/S/

Donald Lam
Department Head, Relationship Management
Commercial Banking

/S/
Sarah Lau
Team Head, Relationship Management
Commercial Banking

We confirm our acceptance of the
Facilities subject to the terms and
conditions set out in this letter

FOR AND ON BEHALF OF BONSO ELECTRONICS LTD.

/S/
-------------------------------------------

                                                                               9Exhibit 10.1

                                AGENCY AGREEMENT
                                ----------------

This Agency Agreement is made on June 3, 2004

BETWEEN:

     I.   Nelson Resources Limited, established under laws of the Commonwealth
          of Bermuda with registered office at Chancery Hall, 52 Reid Street,
          Hamilton HM 12, Bermuda and operating in the Republic of Kazakhstan
          through its Branch located at 240, Dostyk Avenue, Almaty 480051,
          hereinafter referred to as "Agent"; and

     II.  Karakudukmunay CJSC., with registered office at Building 82, District
          3, Aktau, Republic of Kazakstan, hereinafter referred to as "KKM".

WHEREAS:

(a)  KKM holds the Subsoil Use License and has entered into the Contract
     covering the Karakuduk Oil deposit in the Mangistau region of Kazakhstan;

(b)  KKM desires to appoint Agent to act as its agent for Marketing KKM Crude
     Oil; and

(c)  Agent is able and willing, in accordance with the terms of this Agreement,
     to act as agent for KKM for the Marketing of KKM Crude Oil.

IT IS HEREBY AGREED as follows:

1.   Definitions and Interpretation

1.1  Unless the context requires otherwise, all capitalised terms in this
     Agreement (including the recitals) shall have the meaning ascribed to them
     in this Clause 1.1.

     "Contract" means the Hydrocarbon Production Contract at the oil deposit of
     Karakuduk of Mangistau Oblast by and between the Government of the Republic
     of Kazakhstan represented by the Ministry of oil and gas industry and KKM.

     "Agreement" means the present Agency agreement.

     "Effective Date" shall have the meaning ascribed to such term in Clause
     3.1.

     "License" means the License for the Right to Use the Mineral Resources of
     the Republic of Kazakhstan, granted by the Republic of Kazakhstan to
     Karakudukmunay for the extraction of hydrocarbons raw minerals at the oil
     deposit of Karakuduk in the Mangistau Oblast dated June 28, 1995.

     "Marketing" means arranging for and transacting the sale and/or exchange of
     KKM Crude Oil in the RK domestic market , Near and Far abroad markets and
     the conduct of the various activities and operations associated with sale
     and/or exchange of KKM Crude Oil, including but not limited to storage,
     blending, transportation and shipment.

     "Marketing Fee" means the fee payable by KKM to Agent for "Marketing" of
     KKM Crude Oil for and on behalf of KKM.

                                  Page 1 of 5

<PAGE>

     "Crude Oil" means the crude oil produced from the Contract Area under the
     terms of the Contract and License.

     "Party" means either KKM or Agent individually, and "Parties" means KKM and
     Agent jointly.

2.   Appointment of Agent and Scope of Authority

2.1  KKM hereby appoints Agent as its duly authorised, exclusive agent for the
     purpose of Marketing Crude Oil, empowered to represent the KKM interests in
     relations with governmental authorities and commercial organizations and
     also enter into contracts and agreements and any other documents necessary
     for and related to the Marketing of Crude Oil.

2.2  Agent hereby accepts the appointment and agrees to act as agent on behalf
     of KKM in accordance with the terms of this Agreement.

2.3  As agent for KKM, Agent shall:

(a)  elaborate Marketing and Transportation strategy in accordance with general
     plans of KKM development;

(b)  monitor potential markets, analyze market behavior and their financial and
     economic condition with the aim of optimising sales or exchanges of Crude
     Oil or KKM oil products;

(c)  contribute to the development of the KKM transport infrastructure and
     obtaining of the access to new economically sound Crude Oil transportation
     routes both on the territory of the Republic of Kazakhstan and territories
     of the transit states;

(d)  evaluate bids from potential domestic crude off-takers on the basis of the
     market for oil products;

(e)  prepare and execute contracts for sale and/or exchange of Crude Oil and oil
     products in the RK domestic market and Near and Far Abroad markets;

(f)  negotiate with the RK Ministry of Energy and Mineral Resources, KazTransOil
     CJSC, KazakhstanTemirZholy CJSC and other transport organizations and
     arrange for preparation and execution of Crude Oil transportation
     contracts;

(g)  compile requests for Crude Oil transportation to KazTransOil CJSC and the
     RK Ministry of Energy and Mineral Resources on a yearly and monthly basis;

(h)  monitor Crude Oil delivery to the KazTransOil system of oil-trunk pipelines
     and other transit oil pipelines and also monitor Crude Oil shipment from
     sea terminals;

(i)  keep track of a schedule of tankers arrival in the ports of shipment and
     settle demurrage issues;

(j)  if the Crude Oil Quality Bank is used for oil transportation through oil
     pipelines, analyse payments for changes in the Crude Oil quality;

                                  Page 2 of 5

<PAGE>

(k)  accomplish Crude Oil hedging, if necessary.

2.4  KKM shall:
     ---------

(a)  provide the Agent with a 12-month crude oil production forecast for the
     next year no later than September 30th of current year and also a monthly
     crude oil production forecast by 5th day of each month preceding a
     transportation month.

(b)  inform the Agent of scheduled well work-over operations leading to the
     reduction in Crude Oil production and also promptly notify the Agent of any
     changes and disruptions in the production of Crude Oil or oil products;

(c)  provide the Agent with daily information on the actual amount of Crude Oil
     produced;

(d)  provide the Agent with documentation required for the KKM Crude Oil export
     in compliance with the existing customs laws (certificate of Crude Oil
     origin, customs declaration, etc) within the time agreed with the Agent;

(e)  prepare and send invoices to the off-takers of Crude Oil or oil products
     and exercise control over the prompt receipt of cash from Crude Oil sale to
     the KKM accounts;

(f)  ensure timely payment of Crude Oil transportation and forwarding services
     and any other costs and expenses associated with Crude Oil transportation
     and sale.

3.   Term

3.1  This Agreement shall take effect as of the 1st of June, 2004 (the
     "Effective Date") and shall remain in effect thereafter for a period of 3
     (three) years, unless terminated earlier in accordance with the terms of
     this Agreement.

3.2  This Agreement may be terminated by either Party upon ninety (90) days
     written notice to the other Party of such termination; provided, however,
     that KKM shall remain liable for any Marketing Fees or other costs and
     expenses payable to Agent hereunder and incurred by Agent in connection
     with any contracts for the Marketing of Crude Oil which are entered into by
     Agent hereunder prior to such termination.

4.   Marketing Fees and Recoverable Costs

4.1  In consideration of all of the services provided and performed by Agent
     under this Agreement, KKM shall pay Agent a flat "Marketing Fee" of twenty
     thousand US dollars ($20,000) per month and a variable "Marketing Fee" in
     the amount of:

     1)   five US cents per barrel ($0.05) of total production in a reporting
          calendar month, providing that the amount of supplies to the local
          market in that month is more than 10% of the total amount of
          production;

                                  Page 3 of 5

<PAGE>

     2)   eight US cents per barrel ($0.08) of total production in a reporting
          calendar month, providing that the amount of supplies to the local
          market in that month is less than 10% of the total amount of
          production.

               These fees are hereinafter referred to as "Marketing Fee".

               If a railroad loading facility is built and oil is transported on
               the railroad in order to increase the revenues from selling the
               oil, KKM shall pay an additional Marketing Fee from the moment of
               signing the agreement concerning construction of the railroad
               loading facility. Such fee will be determined by the Parties in
               an additional agreement.

4.2  Marketing Fee defined in Clause 4.1 of the Agreement does not include VAT.

4.3  In addition to Marketing Fee, KKM shall reimburse Agent for any and all
     costs, expenses, losses and liabilities (together with any associated VAT
     or other tax), incurred and paid by Agent in acting as agent for KKM, (the
     "Recoverable Costs"), including, but no limited to:

(a)  any taxes, duties, fees and any other assessments of levies imposed on
     Crude Oil or as a result of any of the Marketing activities performed by
     Agent pursuant to this Agreement by any governmental authority;

(b)  all tariffs, demurrage charges, charter hire, port and harbour fees and any
     other costs, expenses and charges payable in relation to the Marketing of
     Crude Oil;

(c)  all costs incurred in relation to defending any claim of a purchaser or
     instituting any legal proceedings against any purchaser to recover moneys
     due in relation to the sale of Crude Oil, including costs of any expert,
     costs of retaining legal counsel, court or arbitration costs and any costs
     of enforcing or defending any arbitral award or judgement; and

(d)  the costs of any independent inspectors engaged in relation to the
     measurement and determination of the quantity and/or quality of KKM Crude
     Oil sold by Agent for and on behalf of KKM.

4.4  Notwithstanding Clause 4.3, all amounts payable under any contracts with
     any third party that are entered into by Agent for and on behalf of KKM
     pursuant to this Agreement shall be responsibility of and be paid directly
     by KKM to the relevant third party.

4.5  All Marketing Fees and Recoverable Costs payable to Agent pursuant to
     Clauses 4.1. and 4.3 hereunder shall be paid every month upon completion of
     the reporting month within five (5) banking days following KKM's receipt of
     Agent's invoice setting out the amounts due and owing.

5.   Title to KKM Crude Oil

5.1  Title to, liability for and risk of physical loss or damage to Crude Oil
     including but not limited to any in-transit losses or operational loss
     allowances shall, at all times, remain with KKM until final transfer of
     title from KKM to a third party purchaser under contracts entered into in
     accordance with this Agreement.

                                  Page 4 of 5

<PAGE>

6.   Miscellaneous

6.1  Neither Party has the right to transfer rights and liabilities under this
     Agreement to any third party without written consent of the other Party.

6.2  This Agreement may not be amended except by an instrument in writing signed
     on behalf of each of the Parties.

6.3  This Agreement is executed in two copies in Russian and English, one copy
     for each Party.

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed
by duly authorised representatives, the day and year first above written.

Agent                                           KKM
Nelson Resources Limited                        Karakudukmunay CJSC

By: /s/  Baltibek Kuandykov              By: /s/  Paul S. Ties
    -----------------------                  -----------------------------------
Title:  Director                         Title:  General Director
        -------------------                      -------------------------------
                                         By: /s/  Kairat Rakhishov
                                             -----------------------------------
                                         Title:  Finance Director
                                                 -------------------------------

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