1
                                                                Exhibit 10.44


                           JTC(L)3729/427 Pt 1/KM/FAZ



                     TENANCY OF FLATTED FACTORY NOS. #05-09

                               514 CHAI CHEE LANE

                             BEDOK INDUSTRIAL ESTATE

                                     BETWEEN

                             JURONG TOWN CORPORATION

                                       AND

                          FLEXTRONICS SINGAPORE PTE LTD


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                         TENANCY OF FLATTED FACTORY UNIT

         This Tenancy is made the 28th day of February 1996 Between the JURONG
TOWN CORPORATION incorporated under the Jurong Town Hall Corporation Act, having
its Head Office at Jurong Town Hall, Jurong Town Hall Road, Singapore
(hereinafter called "the Landlord" of the one part and FLEXTRONICS SINGAPORE PTE
LTD a company incorporated in Singapore and having its registered office at

                  BLK 514 CHAI CHEE LANE #04-13
                  SINGAPORE 469029

(hereinafter called " the Tenant" which expression shall where the context so
admits include the Tenant's successors and permitted assigns) of the other part.

         WITNESSETH as follows:-

1        The Landlord hereby lets and the Tenant hereby takes ALL that portion
         of the FIFTH (5TH) storey(s) of the Building known as 514 CHAI CHEE
         LANE (hereinafter called "the Building") containing an approximate area
         of 246.0 square metres (which said area may be adjusted on completion
         of survey, if any) more particularly delineated and edged red on the
         plan annexed hereto (which portion is hereinafter called "the Factory
         Unit") TOGETHER with the use of the lavatories and conveniences thereat
         together also with use for the Tenant, the Tenant's servants and
         visitors of the lifts and the entrances staircases corridors and
         passages and accesses to the Building for the purpose only of ingress
         and egress to and from the Factory Unit with or without parcels and
         packages TO HOLD the same UNTO the Tenant for the term of THREE (3)
         YEARS from the 1ST DAY OF JANUARY 1996 YIELDING AND PAYING therefor
         during the said term the rent of DOLLARS THIRTEEN ONLY ($13/-) PER
         SQUARE METRE PER MONTH to be paid, without any deduction and in advance
         without demand on the 1st day of each of the calendar months of the
         year (i.e., the 1st day of January, February, March, etc.) the first of
         such payments to be made on the 1ST DAY OF JANUARY 1996.

TA/FF/PTE LTD(m. rent/psmpm)9.1/AN/h1
(NEW Offer)


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                                      - 2 -

2        The Tenant hereby covenants with the Landlord as follows:

         (1)      To pay the said rent on the days and in the manner aforesaid.

         (2)      To pay in addition to the said rent during the said term the
                  sum of DOLLAR ONE AND CENTS SEVENTY ONLY ($1.70CTS) per square
                  metre per month in advance on the same dates and in the same
                  manner as for the said rent as charges for services to be
                  undertaken by the Landlord as hereinbefore mentioned
                  (hereinafter referred to as "the Service Charge") PROVIDED
                  THAT if the cost of services shall increase, the Landlord may
                  revise the Service Charge and on serving a notice in writing
                  to the Tenant to this effect such revised Service Charge shall
                  be payable as from the date specified in the said notice.

         (3)      (i)      To pay a cash deposit equivalent to three (3) months'
                           rent and service charge on or before the execution of
                           this Agreement or commencement of the said term,
                           whichever is the earlier, as security against breach
                           of any of the covenants herein contained which cash
                           deposit shall be maintained at this figure during the
                           said term and shall be repayable without interest on
                           the termination of this tenancy subject however to an
                           appropriate deduction as damages in respect of any
                           such breach.

                  (ii)     In lieu of the aforesaid cash deposit to provide an
                           acceptable banker's guarantee for the same equivalent
                           amount, which guarantee shall be valid and
                           irrevocable for the whole of the said term or the
                           unexpired portion of the said term, as the case may
                           be, plus six months after the date of expiry of the
                           said term and in a form approved by the Landlord or
                           to provide such other form of security as the
                           Landlord may in the Landlord's absolute discretion
                           permit or accept.


TA/FF/(m. rent/psmpm)/9.1A/Revised Nov 93/GO/ZMY
(NEW OFFER)


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                                      - 3 -

                  (iii)    If the Service Charge has been increased by the
                           Landlord in accordance with Clause 2(2) hereof to pay
                           the amount of such increase so that the cash deposit
                           stipulated in sub-clause (i) above shall at all times
                           be equal to three (3) months' rent and service
                           charge.

         (4)      During the said term or any renewal thereof to pay any
                  increase of property tax which may be imposed whether by way
                  of an increase in the annual value or an increase in the rate
                  per centum. For the purpose of ascertaining the additional
                  amount payable under this clause any such increase in property
                  tax shall be apportioned in the same proportion as the rent
                  payable under this Agreement bears to the total assessed
                  annual value of the Building at the date such increase comes
                  into force.

         (5)      To pay all charges and outgoings whatsoever in respect of the
                  supply of electricity and water used by the Tenant at the
                  Factory Unit as shown by the separate meters belonging thereto
                  and also pay all charges for the use and maintenance of such
                  meters PROVIDED ALWAYS that subject to the prior written
                  consent of the Landlord and to all approvals being obtained by
                  the Tenant from the relevant governmental and statutory
                  authorities the water sub-meter will be installed in the
                  Factory Unit by the Tenant at the Tenant's own cost.

         (6)      At all times to use and occupy the Factory Unit for the
                  purpose of ASSEMBLY OF COMPUTER AND MEDICAL RELATED
                  ELECTRONICS CONTROL CARDS ONLY and for no other purposes
                  whatever.

         (7)      Not to place or allow to be placed upon the Factory Unit or on
                  any of the floors in the Building any article machinery or
                  load in excess of 7.5 kiloNewtons per square metre and not to
                  place or allow to be placed in the goods lifts of the Building
                  any article machinery or load in excess of 2000 kilograms.


TA/FF/CL 2(7) max floor loading/9.1A/(Revised Nov 93)/GO/ZMY
(NEW OFFER)


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                                      - 4 -

         (8)      To keep the interior of the Factory Unit (including the doors
                  and windows thereof and all the Landlord's other fixtures and
                  fittings therein) clean and in good and substantial repair and
                  condition (fair wear and tear and damage by fire lightning
                  riot or tempest alone excepted) and also to clean and keep
                  clean the exterior of the windows thereof.

         (9)      Not to make or cause to be made any alteration in or addition
                  to the Factory Unit without the prior written consent of the
                  Landlord and the relevant governmental and statutory
                  authorities PROVIDED THAT on the granting of such consent and
                  without prejudice to other terms and conditions which may be
                  imposed the Tenant shall place with the Landlord a deposit
                  equivalent to such amount as the Landlord may deem sufficient
                  for the reinstatement of the Factory Unit to its original
                  condition. Further, the Tenant shall not use any flammable
                  building materials for internal partitioning.

         (10)     Not to modify any existing electrical wirings or modify or
                  replace any existing fire alarm fixtures and fittings or affix
                  or install any further or additional electrical and fire alarm
                  wiring extension in or about the Factory Unit without the
                  written consent of the Landlord having been first obtained and
                  PROVIDED FURTHER THAT all such work shall be carried out by a
                  licensed electrical contractor or competent person as approved
                  by the Landlord to be employed and paid by the Tenant who
                  shall ensure as part of the work that the existing circuits
                  and equipment are not overloaded or unbalanced. Prior to any
                  electrical and fire alarm installation or modification work,
                  the Tenant shall submit the necessary plans as hereinafter
                  specified under clauses 2(29) and 2(30) to the Landlord for
                  approval.

         (11)     To permit the Landlord or the Landlord's agents with or
                  without workmen or others at all reasonable times to enter the
                  Factory Unit to take inventories of the Landlord's fixtures
                  and fittings therein and to view the condition thereof and
                  examine the state of repair of the Factory Unit and thereupon
                  the Landlord may serve upon the Tenant notice in writing
                  specifying any work or repairs necessary to be done which are
                  within the responsibility of the Tenant under the terms of
                  this Agreement and require the Tenant forthwith to execute the
                  same and the Tenant shall pay the Landlord's reasonable costs
                  of survey attending the preparation of the notice and if the
                  Tenant shall not within ten days after the service of such
                  notice proceed diligently and in workman-like manner with the
                  execution of such work or repairs then to permit the Landlord
                  (who

TA/FF/CLS 2(9) AND 2(10) amdmt Nov 93/9.1A/GO/ZMY
(NEW OFFER)


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                  shall not be under any obligation so to do) to enter upon the
                  Factory Unit and execute such work or repairs and the cost
                  thereof shall be a debt due from the Tenant to the Landlord
                  and be forthwith recoverable PROVIDED ALWAYS that the Landlord
                  shall not be liable to the Tenant for any loss damage or
                  inconvenience caused by such work or repairs.

         (12)     To be wholly responsible for all damages and to bear the full
                  cost of repairs and reinstatement of such damaged building
                  equipment fixtures drains wiring and piping above and below
                  ground level if the cause or causes of such damages can be
                  traced directly or indirectly back to the Tenant's activities.

         (13)     To permit the Landlord, the Landlord's agents or workmen and
                  others to enter the Factory Unit at reasonable hours to do
                  structural or external repairs and execute such work as may be
                  necessary to the Factory Unit or to other portions of the
                  Building of which the Factory Unit may form a part but which
                  are not conveniently accessible otherwise than from or through
                  the Factory Unit.

         (14)     In complying with Clause 2(13) hereof and if so required by
                  the Landlord the Tenant shall remove such installation,
                  machinery or any article to permit the Landlord to execute the
                  said repairs and works and if the Tenant shall fail to observe
                  or perform this covenant the Landlord shall remove the same
                  and all costs and expenses incurred thereby shall be
                  recoverable from the Tenant as a debt PROVIDED ALWAYS that the
                  Landlord shall not be liable to the Tenant for any loss damage
                  or inconvenience caused by such removal.

         (15)     Subject always to clause 2(27) hereinafter appearing, to give
                  to the Landlord written notice of every change of name within
                  one month from the date of each change.

         (16)     To make good and sufficient provision for and to ensure the
                  safe and efficient disposal of all waste generated at the
                  Factory Unit including but not limited to pollutants to the
                  requirements and satisfaction of the Landlord and the relevant
                  governmental and statutory authorities PROVIDED THAT in the
                  event of any default by the Tenant under this covenant the
                  Landlord may at the discretion of the Landlord and without
                  prejudice to any other rights and remedies the Landlord may
                  have in law or under this Agreement, carry out such remedial
                  measures and works as the Landlord thinks necessary and all
                  costs and expenses incurred thereby shall forthwith be
                  recoverable in full from the Tenant as a debt.

TA/FF/CL 2(15)  change of name/(July 93)/CL 2(16) amdmt Nov
93/GO/ZMY/9.1A
(NEW OFFER)


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         (17)     To provide and maintain refuse receptacles for all waste and
                  refuse produced at the Factory Unit in conformity with the
                  requirements and standards prescribed by the health authority
                  and to keep the same out of sight of the public during the
                  hours of business and to transfer such waste and refuse in
                  suitable receptacles to such area and at such times each day
                  as may be prescribed by the Landlord.

         (18)     Not to keep or allow to be kept livestock or other animals at
                  the Factory Unit.

         (19)     Not to do or suffer to be done on or in the Factory Unit
                  anything whereby the insurances of the same or of the Building
                  or any part thereof may be rendered void or voidable or
                  whereby the premium thereon may be increased and to repay to
                  the Landlord on demand all sums paid by the Landlord by way of
                  increased premium and all expenses incurred by the Landlord in
                  connection therewith and all loss damages and expenses
                  resulting from a breach or non-observance of this covenant
                  without prejudice to any other rights and remedies available
                  to the Landlord.

         (20)     Not to do or permit or suffer to be done anything in or upon
                  the Factory Unit or any part of the Building which in the
                  opinion of the Landlord is or may be a nuisance or cause
                  annoyance to or in any way interfere with the business or the
                  quiet or comfort of the other occupants of the Building
                  PROVIDED THAT the Landlord shall not be responsible to the
                  Tenant for any loss, damage or inconvenience as a result of
                  nuisance, annoyance or any interference whatsoever caused by
                  the other occupants of the Building.

         (21)     Not to use the Factory Unit for any illegal or immoral
                  purpose.

         (22)     Not to cause any obstruction in or on the approaches, private
                  roads or passage way adjacent to or leading to the Building by
                  leaving or parking or permitting to be left or parked any
                  motor vehicle or other carriages belonging to or used by the
                  Tenant or by any of the Tenant's friends servants or visitors.
                  And also to observe and ensure observance of all regulations
                  made by the Landlord relating to the parking of such vehicles
                  or carriages and to pay such carpark charges as may be imposed
                  by the Landlord or his agent.

         (23)     Not to effect any sale by auction in the Building.

TA/FF/CL(22) amdmt Nov 93/9.1A/GO/ZMY
(NEW OFFER)


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         (24)     Not to affix paint or otherwise exhibit on the exterior of the
                  Factory Unit or the windows thereof or of the Building or in
                  any of the passages corridors or stairs of the Building any
                  name plate placard poster or advertisement or any flag-staff
                  or other thing whatsoever save only the name of the Tenant in
                  such places only and not elsewhere and in such manner and
                  position only as shall be approved in writing by the Landlord.

         (25)     Not to cause any obstruction to the common stairways
                  passageways and other common parts of the Building or accesses
                  to the Building. PROVIDED ALWAYS that the Landlord shall have
                  the full right and liberty and absolute discretion to remove
                  and clear any such obstruction and all costs and expenses
                  incurred thereby shall be recoverable from the Tenant as a
                  debt. FURTHER PROVIDED THAT the Landlord shall not be liable
                  to the Tenant or any third party for any loss damage or
                  inconvenience caused by such removal and the Tenant hereby
                  indemnifies the Landlord in this respect.

         (26)     Not to install any machinery or fixture in the Factory Unit
                  without the permission in writing of the Landlord and to
                  submit a layout plan of the Tenant's machinery for the
                  approval of the Landlord and the relevant governmental and
                  statutory authorities prior to the actual fixing of the
                  machinery.

         (27)     Not to assign create a trust sublet grant a licence or part
                  with or share the possession or occupation of the Factory Unit
                  or any part thereof or leave the Factory Unit or any part
                  thereof vacant and unoccupied at any time during the said
                  term.

         (28)     Not to do or omit or suffer to be done or omitted any act
                  matter or thing in or on the Factory Unit and/or in respect of
                  the business trade or industry carried out or conducted
                  therein which shall contravene the provisions of any laws
                  rules or regulations now or hereafter affecting the same and
                  at all times hereafter to indemnify and keep indemnified the
                  Landlord against all actions, proceedings, costs, expenses,
                  claims, fines, losses, penalties and demands in respect of any
                  act matter or thing done or omitted to be done in
                  contravention of the said provisions.

         (29)     To install electrical switch board wirings and equipment to
                  the Factory Unit including the following electrical protective
                  devices, all at the Tenant's own expense, subject to the
                  approval of the Landlord:-

                  (a)      Overcurrent protective devices in the Landlord's
                           Switch Room;

TA/FF/CL 2(27) no subletting + non-vacant/9.1A/(Revised Nov
93)/GO/ZMY
(NEW OFFER)


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                  (b)      Overcurrent and earth-leakage protective devices in
                           the Factory Unit,

         PROVIDED THAT-

                        (i)     the Tenant shall submit 3 sets of 'electrical
                                single- line diagram' of the Factory Unit
                                wirings for the approval of the Landlord prior
                                to the actual installation of the wirings; and

                       (ii)     it shall be the responsibility of the Tenant to
                                keep all or any of the aforesaid switch board
                                wirings, equipment and devices installed by the
                                Tenant in good condition at all times.

         (30)     To carry out such modification work on the existing fire alarm
                  wirings, heat detectors and fixtures in the Factory Unit as
                  shall be necessary to suit the factory operation, including
                  the installation of additional wirings and connections of the
                  heat detectors and fixtures to the Landlord's common fire
                  alarm system, to the approval of the Landlord and all at the
                  Tenant's own expense PROVIDED THAT:

                  (a)      The Tenant shall submit 2 copies of the fire alarm
                           drawings of the Factory Unit indicating the existing
                           fixtures, the proposed modifications and the layout
                           of the Tenant's machinery for the approval of the
                           Landlord prior to the commencement of the
                           modification work.

                  (b)      The Tenant shall at the Tenant's own expense ensure
                           that the existing fire alarm wirings, heat detectors
                           and fixtures and any additional wirings and fixtures
                           installed by the Tenant in the Factory Unit are
                           serviced monthly and in good condition at all times
                           including the payment of any fee(s) in connection
                           with servicing and maintenance works.

                  (c)      Any item of replacement required for the effective
                           maintenance of the fire alarm wirings, heat detectors
                           and fixtures shall be of a quality and shall have an
                           operational characteristic similar to the item to be
                           replaced and shall be subject to the approval of the
                           Landlord. The Tenant shall at his own cost forthwith
                           replace any or all items of dissimilar quality and
                           operational characteristic found in use.

         (31)     To close the Factory Unit during such hours as the Landlord
                  may specify by notice in writing to the Tenant for any
                  maintenance or repair work to be executed by the Landlord.

TA/FF/CL 2(30)(C) amdmt Nov 93/9.1A/GO/ZMY
(NEW OFFER)


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         (32)     At all times during the three calendar months immediately
                  preceding the determination of the said term to permit
                  intending tenants and others with written authority from the
                  Landlord or his agents at reasonable times of the day to view
                  the Factory Unit.

         (33)     At the determination of the said term by expiry or otherwise
                  to yield up the Factory Unit and all the Landlord's fixtures
                  fittings fastenings or appertaining in such good and
                  substantial repair fair wear and tear excepted as shall be in
                  accordance with the covenants of the Tenant herein contained
                  and with all locks and keys complete.

         (34)     In addition to the foregoing and immediately prior to the
                  determination of the said term or the renewal thereof as the
                  case may be to restore the Factory Unit in all respects to its
                  original state and condition if so required by the Landlord to
                  redecorate including painting the interior thereof to the
                  satisfaction of the Landlord PROVIDED ALWAYS that if the
                  Tenant shall fail to observe or perform this covenant the
                  Landlord may in its absolute discretion, and without prejudice
                  to any other rights and remedies the Landlord may have against
                  the Tenant, execute such work for the said restoration and
                  redecoration and shall recover all costs thereof from the
                  Tenant together with all rent and service charge, tax and
                  other amounts which the Landlord would have been entitled to
                  receive from the Tenant had the period within which such
                  restoration and redecoration are effected by the Landlord been
                  added to the said term.

         (35)     To pay interest at the rate of 8.5% per annum or such higher
                  rate as may be determined from time to time by the Landlord in
                  respect of any outstanding amount payable under this Agreement
                  from the date such amount becomes due until payment in full is
                  received by the Landlord PROVIDED THAT, if any payment or
                  tender of payment of any sums by the Tenant hereunder shall be
                  rejected or returned or refunded by the Landlord by reason of
                  the Landlord doing so with a view to avoiding a waiver of any
                  breach of any covenant or stipulation on the Tenant's part
                  herein contained or avoiding any prejudice to the Landlord's
                  right of reentry in any of the cases mentioned in Clause 4(1),
                  the Tenant shall nevertheless be liable to pay interest on the
                  amount of that payment at the rate prescribed or determined
                  pursuant to this clause from the date such amount becomes due
                  until the time it is eventually and actually paid to and
                  accepted by the Landlord.

         (36)     Not to install or use any electrical installation, machine or
                  apparatus that may cause or causes heavy

TA/FF/CL 2(34) normal reinstatement/9.1A/(Revised Nov 93)/GO/ZMY
+ CL 2(35) amendmt July 95/THC/ZMY
(NEW OFFER)


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                  power surge, high frequency voltage and current, air borne
                  noise, vibration or any electrical or mechanical interference
                  or disturbance whatsoever which may prevent or prevents in any
                  way the service or use of any communication system or affects
                  the operation of other equipment, installations, machinery,
                  apparatus or plants of other Tenants and in connection
                  therewith, to allow the Landlord or any authorised person(s)
                  to inspect at all reasonable times, such installation, machine
                  or apparatus in the Factory Unit to determine the source of
                  the interference or disturbance and thereupon, to take
                  suitable measures, at the Tenant's own expense, to eliminate
                  or reduce such interference or disturbance to the Landlord's
                  satisfaction, if it is found by the Landlord or such
                  authorised person(s) that the Tenant's electrical
                  installation, machine or apparatus is causing or contributing
                  to the said interference or disturbance.

         (37)     To indemnify the Landlord against any claims, proceedings,
                  action, losses, penalties, damages, expenses, costs, demands
                  which may arise in connection with clause 2(36) above.

         (38)     To perform and observe all the obligations which the Landlord
                  of the Factory Unit may be liable to perform or observe during
                  the said term by any direction or requirement of any
                  governmental or statutory authority and if the Tenant shall
                  fail to observe or perform this covenant the Landlord may in
                  its absolute discretion perform the same and all expenses and
                  costs incurred thereby shall be recoverable from the Tenant as
                  a debt PROVIDED ALWAYS that the Landlord shall not be liable
                  to the Tenant for any loss damage or inconvenience caused
                  thereby.

         (39)     Without prejudice to the generality of Clause 2(38) herein,
                  the rent and service charge and other taxable sums payable by
                  the Tenant under or in connection with this tenancy shall be
                  exclusive of the goods and services tax (herein called "tax")
                  chargeable by any government, statutory or tax authority
                  calculated by reference to the amount of rent, service charge
                  and any other taxable sums received or receivable by the
                  Landlord from the Tenant and which tax is payable by the
                  Tenant. The Tenant shall pay the tax and the Landlord acting
                  as the collecting agent for the government, statutory or tax
                  authority shall collect the tax from the Tenant together with
                  the rent hereinbefore reserved without any deduction and in
                  advance without demand on the 1st day of each of the calendar
                  months of the year and in the manner and within the period
                  prescribed in accordance with the applicable laws and
                  regulations.

         (40)     If any damage of whatsoever nature or description shall at any
                  time occur or be caused to the Factory Unit or any part
                  thereof, to forthwith give the Landlord written notice of
                  damage.

TA/FF/CL 2(39) New GST (July 94)/(Revised July 93)/9.1A/GO/LPN/ZMY/
Revised Nov. 93 (NEW OFFER)


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                                     - 11 -

         (41)     To ensure that -

                        (i)     at least 60% of the overall floor area shall be 
                                used for purely industrial activities and

                       (ii)     the remaining 40% shall be used as ancillary
                                stores and offices, neutral areas and communal
                                facilities PROVIDED THAT the said ancillary
                                offices shall not exceed 25% of the overall
                                floor area.

         (42)     Not to use or occupy the Factory Unit for the purpose of
                  commercial office and storage unrelated to the Tenant's
                  approved industrial activity.

         (43)     To permit the Landlord, the Landlord's agents or workmen and
                  others at any time during the said term to enter the Factory
                  Unit to replace the louvre/casement windows and timber doors
                  with such other windows and doors as the Landlord may think
                  fit and to install or replace service ducts/pipes (hereinafter
                  referred to as "the said replacement or installation works").
                  If so required by the Landlord the Tenant shall remove such
                  installation, machinery, partition and any article to permit
                  the Landlord to execute the said replacement or installation
                  works, and if the Tenant shall fail to observe or perform this
                  covenant the Landlord shall have the right to (without
                  prejudice to any other right or remedy the Landlord may have
                  against the Tenant) remove the same, and all costs and
                  expenses incurred thereby shall forthwith be recoverable from
                  the Tenant as a debt PROVIDED ALWAYS that the Landlord shall
                  not be liable to the Tenant for any loss, damage or
                  inconvenience caused whatsoever by such removal and the said
                  replacement or installation works.

         (44)     Without prejudice to Clause 2(6) hereof and subject to the
                  prior written approval of the Landlord, to provide thermal
                  insulation to the floor, ceiling and the walls of rooms, if
                  the rooms are used for purposes requiring low temperature air
                  conditioning or cooling that would result in moisture
                  condensation on the external, ceiling or floor within or
                  outside the Factory Unit.

         (45)     Not to commence operation in the Factory Unit after the
                  installation(s) of any type of machinery or equipment have
                  been completed until a final inspection of the installation(s)
                  has been carried out and approval in writing of the same is
                  given by the Landlord.

TA/FF/CL 2(40) damage cl + CL 2(43) TO (46) replacement of window/door + thermal
insulatn + machy inspectn /9.1A/(Revised Nov 93)/GO/ZMY (NORMAL FLOOR) (NEW
OFFER)


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                                     - 12 -

         (46)     The Tenant accepts the Factory Unit with full knowledge that
                  refurbishment and upgrading works (hereinafter referred to as
                  "the refurbishment") are being or may be carried out in the
                  Building and the estate in which the Building is situated. The
                  Tenant shall, if required by the Landlord and within the time
                  stipulated by the Landlord, at the cost and expense of the
                  Tenant properly and in accordance with the obligations of the
                  Tenant under this Agreement remove, re-locate and/or modify
                  temporarily or permanently as may be stipulated by the
                  Landlord every installation, fixture, fittings, device,
                  equipment and article existing at the time outside the Factory
                  Unit as the Landlord may think fit for the purpose of
                  permitting the Landlord, his servant, agent, contractor and
                  subcontractor to properly carry out the refurbishment or for
                  the purpose of improving the appearance or aesthetics of the
                  Building. PROVIDED THAT if the Tenant shall fail to observe or
                  perform this covenant or any part thereof the Landlord shall
                  have the right (without prejudice to any other right or remedy
                  the Landlord may have against the Tenant) to remove, re-locate
                  and/or modify any or every such installation, fixture,
                  fittings, device, equipment and article, and all costs and
                  expenses incurred thereby shall forthwith be recoverable from
                  the Tenant as a debt. PROVIDED ALWAYS and it is hereby agreed
                  that the Landlord shall not be liable in any way to the Tenant
                  or any other person for any loss, damage, claim, cost,
                  expense, disruption, interference and/or inconvenience caused
                  howsoever or whatsoever by or in connection with the
                  refurbishment and/or the removal, re-location or modification.

TA/FF/CL 2(46) refurbishment/9.1A/(Revised Nov 93)/GO/ZMY
(NEW OFFER)


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                                     - 13 -

3        The Landlord hereby covenants with the Tenant as follows:

         (1)      To pay the property tax payable in respect of the Factory Unit
                  PROVIDED ALWAYS that if the rate of such property tax shall be
                  increased whether by way of an increase in the annual value or
                  an increase in the rate per cent then the Landlord shall not
                  hereunder be liable to pay the said increase but the Tenant
                  shall pay such increase as provided under Clause 2(4) hereof.

         (2)      To keep the exterior and roof of the Building and the lift
                  entrances corridors passages staircases lavatories water
                  closets and other conveniences intended for the use of the
                  Tenant at all times in complete repair and in proper sanitary
                  and clean condition.

         (3)      To keep the stairs and passages leading to the Factory Unit
                  and the lifts and lavatories well and sufficiently lighted and
                  the lifts in proper working order PROVIDED THAT the Landlord
                  shall not be responsible for any loss the Tenant may sustain
                  by reason of any damage or injury or in consequence of any
                  breakage of or defect in any of the pipes wire or other
                  apparatus of the Landlord used in or about the Building.

         (4)      To keep the Building insured against loss or damage by fire
                  and in the event of such loss or damage (unless resulting from
                  some act or default of the Tenant) to rebuild and reinstate
                  the damaged part of the Building PROVIDED THAT it is expressly
                  agreed and understood that the term "loss or damage by fire"
                  as used in this clause do not include any loss or damage
                  caused to the Tenant's fixtures or loss due to the factory
                  being rendered out of commission and in any such event the
                  Landlord shall not be held liable for any such loss or damage
                  sustained by the Tenant.

         (5)      That the Tenant paying the rent, service charge and tax and
                  observing and performing the several covenants and
                  stipulations on the Tenant's part herein contained shall
                  during the said term quietly enjoy the Factory Unit without
                  any interruption by the Landlord or any person or persons
                  lawfully claiming under or in trust for the Landlord.

4        PROVIDED ALWAYS THAT and it is hereby agreed as follows:-

         (1)      If the rent hereby reserved or service charge or interest, tax
                  or any other sums payable herein, or any part thereof shall at
                  any time remain unpaid for fourteen (14) days after becoming
                  payable (whether formally demanded or not) or if the Tenant
                  shall neglect to observe or perform any covenant or
                  stipulation on the Tenant's part herein contained or if the
                  Tenant shall make any assignment for the benefit of the
                  Tenant's creditors or enter into any arrangement with its
                  creditors by composition or otherwise or suffer any distress
                  or attachment or execution to be levied against the Tenant's
                  goods or if the Tenant for the time being shall be a company
                  and shall enter

TA/FF/CL 4(1) + sc & int Mar 93/9.1A/CL 3(5) amdmt Nov 93 & 4(1)/GO/ZMY (NEW
OFFER)


   15


                                     - 14 -

                  into liquidation whether compulsory or voluntary (save for the
                  purpose of reconstruction or amalgamation) or being an
                  individual shall have a receiving order or an adjudicating
                  order made against the Tenant then and in any or [sic] such
                  cases it shall be lawful for the Landlord at any time
                  thereafter to re-enter upon the Factory Unit or any part
                  thereof in the name of the whole and thereupon this Tenancy
                  shall absolutely determine but without prejudice to the rights
                  of action of the Landlord in respect of any breach of the
                  covenants on the part of the Tenant herein contained.

         (2)      Any notice requiring to be served hereunder shall be
                  sufficiently served on the Tenant if it is left addressed to
                  the Tenant at the Factory Unit or forwarded to the Tenant by
                  registered post to the Tenant's last known place of business
                  and shall be sufficiently served on the Landlord if it is
                  addressed to the Landlord and sent by registered post to the
                  Head Office of the Landlord. In the event of any action in
                  respect of the tenancy created herein (including any action
                  for the recovery of the rent or service charge herein reserved
                  or tax and/or any other sums herein payable) the Tenant agrees
                  and accepts that the originating process shall be sufficiently
                  served on the Tenant if it is addressed to the Tenant at the
                  address specified in this Agreement or if it is left posted
                  upon a conspicuous part of the Factory Unit or forwarded to
                  the Tenant by post at the Tenant's last known place of
                  business.

         (3)      Letters or parcels whether registered or otherwise and
                  telegrams or keys received by any agent or servant of the
                  Landlord on behalf of the Tenant shall be received solely at
                  the risk of the Tenant.

         (4)      No waiver expressed or implied by the Landlord of any breach
                  of any covenant, condition or duty of the Tenant shall be
                  construed as a waiver of any other breach of the same or any
                  other covenant, condition or duty and shall not prejudice in
                  any way the rights, powers and remedies of the Landlord herein
                  contained. Any acceptance of rent, service charge, tax and/or
                  any other sum whatsoever payable under this Agreement shall
                  not be construed as nor be deemed to operate as a waiver by
                  the Landlord of any right to proceed against the Tenant for
                  any of the Tenant's obligations hereunder.

         (5)      The Landlord shall not be responsible for any loss damage or
                  inconvenience occasioned by the closing of the lift or lifts
                  for repairs or any other necessary purpose or for any accident
                  that may occur to the Tenant or other person using the lift.

TA/FF/amendment CLS 4(2)-(4) Nov 93/GO/ZMY
(NEW OFFER)


   16


                                     - 15 -

         (6)      The Landlord shall be under no liability either to the Tenant
                  or to others who may be permitted to enter or use the Factory
                  Unit or the Building or any part thereof for any accident(s)
                  or injuries sustained or loss or damage to property in the
                  Factory Unit or the Building or any part thereof.

         (7)      The Landlord shall not be liable to the Tenant in respect of:

                        (i)     any interruption in the services provided by the
                                Landlord by reason of necessary repair or
                                maintenance of any installation or apparatus or
                                damage thereto or by reason of mechanical or
                                other defect or breakdown including but not
                                limited to breakdown in electricity and water
                                supply;

                       (ii)     any act, omission, default, misconduct or
                                negligence of any servant, agent, contractor,
                                sub-contractor or employee of the Landlord in or
                                about the performance or purported performance
                                of any duty relating to the provision of the
                                said services.

         (8)      The Landlord shall be entitled to let any other part or parts
                  of the Building subject to any terms or conditions which the
                  Landlord may think fit to impose and nothing herein contained
                  shall be deemed to create a letting scheme for the Building or
                  any part thereof and neither the Tenant nor the persons
                  deriving title under the Tenant shall have the benefit of or
                  the right to enforce or to have enforced or to prevent the
                  release or modification of any covenant agreement or condition
                  entered into by any present or future tenant.

         (9)      The Tenant shall pay all costs disbursements fees and charges
                  legal or otherwise including stamp and/or registration fees in
                  connection with the preparation stamping and issue of this
                  Agreement and any prior accompanying or future documents or
                  deeds supplementary collateral or in any way relating to this
                  Agreement.

TA/FF/amdmt CL 4(7) Nov 93/GO/ZMY
(NEW OFFER)


   17


                                     - 16 -

         (10)     The Tenant shall pay all costs and fees legal or otherwise
                  including costs as between solicitor and clients in connection
                  with the enforcement of the covenants and conditions of this
                  Agreement.

         (11)     The Landlord shall not be liable for any loss or damage that
                  may be suffered by the Tenant resulting from any subsidence or
                  cracking of the ground floor slabs and aprons of the Building
                  PROVIDED that this clause shall apply only to Tenants
                  occupying the ground floor of the Building.

         (12)     The Landlord shall on written request of the Tenant made not
                  less than three (3) months before the expiration of the term
                  hereby created and if there shall not at the time of such
                  request be any existing breach or non-observance by the Tenant
                  of any of the terms, covenants and stipulations contained in
                  this Agreement, at the cost and expense of the Tenant grant to
                  the Tenant a tenancy of the Factory Unit for a further term to
                  be mutually agreed upon by the parties hereto and at a revised
                  rent to be determined by the Landlord, whose determination
                  shall be final and conclusive, having regard to the market
                  rent of the Factory Unit at the time of granting the said
                  further term, and containing the like terms, covenants and
                  stipulations as are herein contained, or such variations or
                  modifications thereof together with such other terms covenants
                  and stipulations as may be imposed by the Landlord with the
                  exception of and without the present covenant for renewal.

TA/FF/CL 4(11) normal flr + CL 4(12) option to renew (revised Feb
95/LPN)/9.1A/(Revised Nov 93)/GO/ZMY (NEW OFFER)