Document:

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                                                                    Exhibit 4.23

[LETTERHEAD OF CITIBANK]

December 5, 2002

Pentalpha Macau Commercial Offshore Limited
Flat C, 15/F.,
Macau Finance Centre
244-246 Rua De Paquim
Macau

Attn:  Mr. John Sham
       President and CEO

Dear Mr. Sham,

Re:  Banking Facility Letter

We are pleased to advise the renewal of the HKD20,000,000.00 (Hong Kong Dollars
Twenty Million Only) Short Term Credit Facilities to your esteemed company
subject to the terms and conditions outlined below:

Lender    :  Citibank, N.A., Macau Branch ("the Bank")

Borrower  :  Pentalpha Macau Commercial Offshore Limited

Guarantor :  Global-Tech Appliances Inc.

Facility  :  HKD20,000,000.00 (Hong Kong Dollars Twenty Million only) Short
             Term Trade Facility with the following sublimits:

             i)     HKD20,000,000.00 full sublimit for issuance of Letters of
                    Credit ("L/C") and Trust Receipt Loans ("TR loans") for
                    purchases under L/C. Maximum tenor for L/C and TR loans is
                    90 days;

             ii)    HKD20,000,000.00 full sublimit for Export Bills Negotiation
                    for up to 90 days to cater for sales under L/C and for
                    discounting of DA/DP Bills against acceptance / payments
                    drawn on approved buyers;

             iii)   HKD12,000,000.00 sublimit for import invoice financing to
                    cater for open account purchases for up to 90 days.

Pricing   :    a)  L/C issuance:
                   1/4 % on first USD50,000.00
                   1/16 % on balance.
                   Minimum HKD450.00

               b)  TR loan / Invoice financing / Export Bills Negotiation:
                   For HKD drawing: HKD Prime or 2% p.a. over 1, 2 or 3-month
                                    HIBOR or Citibank
                                    HKD cost of funds, whichever is higher.
                   For USD drawing: USD Prime or 2% p.a. over 1, 2 or 3-month
                                    LIBOR or Citibank
                                    USD cost of funds, whichever is higher.

                                                           A member of citigroup

F1006 (HK)     Organised under the laws of U.S.A. with limited liability

<PAGE>

Pentalpha Macau Commercial Offshore Limited
Facility Letter - December 2002

DOCUMENTATION TO BE OBTAINED:

1.   Acceptance of this Facility Letter together with its terms and conditions;
2.   Board Resolution from the Borrower and Guarantor validating their
     acceptance of the facilities together with the terms and conditions as
     outlined herein;
3.   Guarantee to be executed by the Guarantor in support of the Short Term
     Credit Facilities extended to the Borrower and supporting Board Resolution;
     and
4.   "Advance Agreement/Letter of Set-Off", "Master Agreement for
     Negotiation/Collection/Advance" and "Continuing Agreement for Letter of
     Credit" to be executed by the Borrower.

The above facilities are available subject to the satisfactory completion of all
required documentation. As a general practice, the Bank reserves the overriding
right to modify or cancel the facilities mentioned herein at its sole
discretion. However, you can expect that the facilities will be reviewed
annually under normal circumstances. Kindly indicate your acceptance of the
terms and conditions above by signing and returning the duplicate copy of this
letter together with the required documents by January 30, 2003.

We look forward to building a closer relationship with your esteemed group in
the years ahead.

Yours sincerely,

/s/ Susanna Wong                        /s/ Alvin Mak
Susanna Wong                            Alvin Mak
Vice President                          Head of Public Sector & PACT,
                                        Local Corporate and Buying Office Group

The above Terms and Conditions are Agreed and Accepted by:

/s/ John C. K. Sham                              /s/ Kwong Ho Sham
---------------------------------------------    -------------------------------
Pentalpha Macau Commercial Offshore Limited      Global-Tech Appliances Inc.
(Borrower)                                       (Guarantor)

                                   Page 2 of 2

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[LETTERHEAD OF CITIBANK]

December 16, 2002

Pentalpha Hong Kong Limited
21/F., Citicorp Centre
18 Whitfield Road
Causeway Bay
Hong Kong

Attn:  Mr. John Sham
       President and CEO

Dear Mr. Sham,

Re:  Banking Facility Letter

This supersedes our Facility Letter dated December 5, 2002.

We are pleased to advise the renewal of the HKD30,000,000.00 (Hong Kong Dollars
Thirty Million Only) Short Term Credit Facilities to your esteemed company
subject to the terms and conditions outlined below:

Lender    :  Citibank, N.A., Hong Kong Branch ("the Bank")

Borrower  :  Pentalpha Hong Kong Limited

Guarantor :  Global-Tech Appliances Inc.

Facility  :  HKD30,000,000.00 (Hong Kong Dollars Thirty Million only) Short Term
             Trade Facility with the following sublimits:

             i)     HKD30,000,000.00 full sublimit for issuance of Letters of
                    Credit ("L/C") and Trust Receipt Loans ("TR loans") for
                    purchases under L/C. Maximum tenor for L/C and TR loans is
                    90 days;

             ii)    HKD30,000,000.00 full sublimit for Export Bills Negotiation
                    for up to 90 days to cater for sales under L/C and for
                    discounting of DA/DP Bills against acceptance / payments
                    drawn on approved buyers;

             iii)   HKD18,000,000.00 sublimit for import invoice financing to
                    cater for open account purchases for up to 90 days;

             iv)    HKD5,000,000.00 sublimit for overdraft and short term money
                    market loan for up to 60 days;

             v)     USD500,000.00 (United States Dollars Five Hundred Thousand
                    only) pre-settlement exposure (PSE) limit for booking
                    foreign exchange and interest rate contracts, with maximum
                    tenor of 360 days. The PSE will be calculated and
                    conclusively determined in accordance with Citibank's
                    internal methodologies from time to time in use.

                                                           A member of citigroup

F1006 (HK)     Organised under the laws of U.S.A. with limited liability

<PAGE>

Pentalpha Hong Kong Limited
Facility Letter - December 2002

Pricing    : a)  L/C issuance:
                 1/4 % on first USD50,000.00
                 1/16 % on balance.
                 Minimum HKD450.00

             b)  TR loan/ Invoice financing/ Export Bills Negotiation/ Short
                 Term Money Market Loan:
                 For HKD drawing: HKD Prime or 2% p.a. over 1,2 or 3-month HIBOR
                                  or Citibank HKD cost of funds, whichever is
                                  higher.
                 For USD drawing: USD Prime or 2% p.a. over 1,2 or 3-month LIBOR
                                  or Citibank USD cost of funds, whichever is
                                  higher.

             c)  Overdraft:
                 For HKD drawing: 1% p.a. over HKD Prime
                 For USD drawing: 1% p.a. over USD Prime

DOCUMENTATION TO BE OBTAINED:

1.   Acceptance of this Facility Letter together with its terms and conditions;
2.   Board Resolution from the Borrower and Guarantor validating their
     acceptance of the facilities together with the terms and conditions as
     outlined herein; and
3.   Guarantee to be executed by the Guarantor in support of the Short Term
     Credit Facilities extended to the Borrower and supporting Board Resolution.

As a general practice, the Bank reserves the overriding right to modify or
cancel the facilities mentioned herein at its sole discretion. However, you can
expect that the facilities will be reviewed annually under normal circumstances.
Kindly indicate your acceptance of the terms and conditions above by signing and
returning the duplicate copy of this letter together with the required documents
by January 30, 2003.

We look forward to building a closer relationship with your esteemed group in
the years ahead.

Yours sincerely,

/s/ Alvin Mak
Alvin Mak
Head of Public Sector & PACT,
Local Corporate and Buying Office Group

The above Terms and Conditions are Agreed and Accepted by:

/s/ John C. K. Sham                              /s/ Kwong Ho Sham
---------------------------------------------    -------------------------------
Pentalpha Hong Kong Limited (Borrower)           Global-Tech Appliances Inc.
                                                 (Guarantor)

                                   Page 2 of 2<PAGE>

                                                                    Exhibit 4.24

[LOGO OF HSBC]

CONFIDENTIAL

Pentalpha Macau Commercial Offshore Ltd
Flat C 15/F
Macau Finance Centre
244-246 Rua de Pequim
Macau                                                               20 June 2002

Attention:  Mr Samuel K S Leung

Our Ref: MMO CBA 020231

Dear Sir

BANKING FACILITIES
ACCOUNT NO. 001-144781

With reference to our recent discussions, we are pleased to confirm our
agreement to granting you the undermentioned banking facilities. These
facilities will be made available on the specific terms and conditions outlined
below and upon the satisfactory completion of the security detailed below. These
facilities are also subject to review at any time and in any event by 15
September 2002, and subject to our overriding right of withdrawal and repayment
on demand, including the right to call for cash cover on demand for prospective
and contingent liabilities.

Overdraft (A/C No. 001-144781-001)                       MOP515,000*
Interest on the overdraft facility will be charged
on daily balances at 1% per annum over our best lending
rate, (BLR is currently 5.25% per annum, but
subject to fluctuation at our discretion) and
payable monthly in arrears to the debit of your
current account.

Export Facilities                                        HKD6,500,000*
Purchase of D/P bills on approved drawees

Within which                                             (HKD6,500,000)*
Purchase of D/A bills on approved drawees up to 90
days

  *     Combined Overdraft and Export (DA) Facilities at a total of HKD6,500,000
        within which Overdraft not to exceed MOP515,000.

We may, at our sole and absolute discretion, refuse to allow drawings under the
facilities if the drawee is considered by us to be unacceptable and / or if the
transaction in question does not meet our operational requirements in respect of
these facilities.

The Hongkong and Shanghai Banking Corporation Limited
PO Box 476, 639 Avenida da Praia Grande, Macau
Tel: (853) 553669 Fax: (853) 322831 Tlx: 88205 HSBCM OM

Incorporated in the Hong Kong SAR with limited liability

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                                      - 2 -

[LOGO OF HSBC]

Packing Credit                                          HKD2,000,000
Up to 70% of valid export Documentary Credits
in your favour deposited with us and within 90
days ahead of the shipment date.

Interest on HKD export DA/DP loans and packing credit facility will be charged
on a daily basis at 1% per annum over our BLR, and payable monthly in arrears
to the debit of your current account.

Interest on foreign currency loans will be charged on a daily basis at the
prevailing interest rates, published by us as Trade Finance Rates, subject to
fluctuation at our discretion and payable monthly in arrears to the debit of
your current account.

Commission in lieu of exchange and HKD bill commission rate will be charged as
follows:

    .   For the first USD50,000 or its equivalent        :     1/4%

    .   Balance in excess of USD50,000 or its equivalent :     1/8%

Export bills collection commission will be charged as follows:

    .   DC/non-DC collection bills

        For the first USD50,000 or its equivalent        :     1/8%
                                                                (minimum HKD300)

        Balance in excess of USD50,000 or its equivalent :     1/16%

    .   DC bills sent to local banks on with recourse

        For the first USD50,000 or its equivalent        :     1/4%
                                                                (minimum HKD350)

        Balance in excess of USD50,000 or its equivalent :     1/8%

    .   DC bills sent to local banks on without recourse

        For the first USD50,000 or its equivalent        :     1/8%
                                                                (minimum HKD350)

        Balance in excess of USD50,000 or its equivalent :     1/16%

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
PO Box 476, 639 Avenida da Praia Grande, Macau
Tel: (853) 553669 Fax: (853) 322831 Tlx: 88205 HSBCM OM

Incorporated in the Hong Kong SAR with limited liability

<PAGE>

                                      - 3 -

[LOGO OF HSBC]

Security

As security for the foregoing facilities, we require:-

1)    Legally notarised livranca for HKD8,500,000 signed by Pentalpha Macau
      Commercial Offshore Limited and endorsed by Global-Tech Appliances Inc
      together with a letter of authority to insert the maturity date at our
      option and board resolution.

2)    Corporate guarantee for HKD8,500,000 signed by Global-Tech Appliances Inc
      in our favour together with board resolution.

In this connection, we enclose the following:

..     a livranca and a letter authorising us to insert the maturity date therein
..     a standard corporate guarantee form together with a draft board resolution
..     a draft English translation of board resolution

The livranca must be signed in the presence of a Macau Public/Private Notary.
Please complete these documents and return them to us at your earliest
convenience.

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

Please note that amounts which are overdue or overlimit (as well as amounts
demanded and not paid) in respect of all or any of these facilities will bear
interest at such rate charged by us from time to time on unauthorised overdrafts
(UOD is currently 5% over our BLR). Pastdue interest on loans will on the other
hand be charged at 3% over the agreed interest rate.

Payments by the borrower/guarantor shall be made to the Bank without any
set-off, counter-claim, withholding or condition of any kind except that if the
borrower/guarantor is compelled by law to make such withholding, the sum payable
by the borrower/guarantor shall be increased so that the amount actually
received by the Bank is the amount it would have received if there had been no
withholding.

Please arrange for the authorised signatories of your company to initial the
foot of pages 1-3 and to sign at the foot of the last page and return to us the
duplicate copy of this letter to signify your confirmation as to the correctness
of the security to be held, and your understanding and acceptance of the terms
and conditions under which these facilities are granted.

The Hongkong and Shanghai Banking Corporation Limited
PO Box 476, 639 Avenida da Praia Grande, Macau
Tel: (853) 553669 Fax: (853) 322831 Tlx: 88205 HSBCM OM

Incorporated in the Hong Kong SAR with limited liability

<PAGE>

                                      - 4 -

[LOGO OF HSBC]

Article 66 of the Financial System Act of Macau
Section 83 of the Hong Kong Banking Ordinance

Please note that Article 66 of the Financial System Act of Macau and Section 83
of the Hong Kong Banking Ordinance have 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 Article
66 and 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.

These facilities will remain open for acceptance until the close of business on
11 July 2002 and if not accepted by that date will be deemed to have lapsed.

We look forward to the development of a mutually beneficial and lasting
relationship.

Yours faithfully

/s/ Synster H T Lee
Synster H T Lee
Corporate Banking Manager

RC/hi

Enc

The Hongkong and Shanghai Banking Corporation Limited
PO Box 476, 639 Avenida da Praia Grande, Macau
Tel: (853) 553669 Fax: (853) 322831 Tlx: 88205 HSBCM OM

Incorporated in the Hong Kong SAR with limited liability

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