Exhibit 10.2
HSBC [LOGO]
Commercial Banking - GP 3, Div M
(CARM 061013)
CONFIDENTIAL
Concord Camera HK Ltd
14/F ADP Pentagon Centre
98 Texaco Road
Tsuen Wan
18 October 2006
NEW TERRITORIES
Attn: Mr Paul Wong
Dear Sir
BANKING FACILITIES
A/C NO. 500-166012-001
With reference to our recent discussion, we confirm our agreement to
extending
the following
revised banking facilities to your company which will be
made
available on the specific terms and conditions outlined below. These
facilities
are subject to review
at any time and, in
any event by 15 June 2007, and also
subject to our
overriding right of
suspension,
withdrawal
and repayment on
demand, including the right to call for cash cover on demand for
prospective and
contingent liabilities.
New
Previously
---
----------
Import Facilities
USD4,700,000.- USD7,700,000.-
Documentary Credits to your suppliers and
Import Loan Facilities in either HK Dollars
or Foreign Currency for up to 120 days, less
any usance/credit periods granted by your
suppliers
within which
(USD4,700,000.-)
(USD7,700,000.-)
Goods under your control and/or Trust Receipts
We may, at our sole and absolute discretion, refuse to allow drawings under
the
facilities if the
transaction
in question does not meet our operational
requirements in respect of these facilities.
Security
As revised
security, we continue to hold a charge over your deposit for
USD5,200,000.- (to be reduced from USD8,200,000.-) placed with us supported by
the Registered "Security Over Deposit" dated 27 January 2006
together with Board
Resolution dated 24 January 2006.
Page 1 of 2
The Hongkong and Shanghai Banking Corporation Limited
HSBC Main Building, 1 Queen's Road Central, Hong Kong
Tel: (852) 282
