Exhibit 10.6

[LETTER HEAD OF HSBC]

Ref:

Concord Camera HK Ltd
14/F Concord Technology Centre
98 Texaco Road
Tsuen Wan New Territories                                       13 December 2003


Attn : Mr Paul Wong

Dear Sir

FACTORING SERVICES

We refer to your e-mail of 6 December  2003 and  understand  that the  factoring
facility is no longer required by you. We therefore discontinue the Funds-In-Use
Limit of USD8,000,000.- with immediate effect.

Meanwhile, we will continue to follow up on the collection of current
outstanding debts due from your factored customers. Upon all outstanding debts
are cleared, the existing factoring services will be ceased and cancelled
automatically.

Please arrange for the authorized signatories of your company, in accordance
with the terms of the mandate given to the Bank, to sign and return to us the
duplicate copy of this letter to signify your understanding and acceptance of
the foregoing.

We are pleased to have been of service to you.

Yours faithfully

                                                 For and On behalf of
                                                 CONCORD CAMERA HK LIMITED

/s/ Roderick K L Ching                           /s/ Joseph Leonardo [ILLEGIBLE]
- ----------------------                           -------------------------------
Roderick K L Ching
Relationship Manager
Enc