EXHIBIT 24(viii)

                 [LETTERHEAD OF PRICE WATERHOUSE APPEARS HERE]


                       REPORT OF INDEPENDENT ACCOUNTANTS


To the Board of Directors of CPM/Pacific (Private) Ltd

In our opinion, the accompanying balance sheet, profit and loss accounts and
cash flows statement present fairly, in all material respects, the financial
position of CPM/Pacific (Private) Ltd at December 31, 1995 and the results of
their operations and their cash flows for the year then ended in conformity with
generally accepted accounting principles in Singapore. These financial
statements are the responsibility of the Company's management; our
responsibility is to express an opinion on these financial statements based on
our audits. We conducted audits of these statements in accordance with United
States generally accepted auditing standards which require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for the opinion expressed
above.

/s/ Price Waterhouse

PRICE WATERHOUSE
Certified Public Accountants

Singapore

10 June 1996