Bolkiah to meet Soeharto

JAKARTA (JP): Sultan Hassanal Bolkiah of Brunei will arrive here this morning for a working visit and will hold bilateral talks with President Soeharto at Merdeka Palace in the afternoon, sources said yesterday.

There were no official statements about the visit from either government. However, informed sources pointed out that the two heads of state will focus their discussion on the recent turmoil in regional currencies.

"The two leaders will likely touch on the currency crisis hitting this region -- especially Indonesia -- and what Brunei can do to help Indonesia," a source said yesterday.

There were no details as to how long the Sultan will stay here. "He may stay here for a few days," said an Asian diplomat who preferred to speak on anonymity.

Bolkiah, considered the world's richest man, told Malaysian Prime Minister Mahathir Mohamad during bilateral talks in Kuala Lumpur last August, that his country would work with the other members of the Association of Southeast Asian Nations (ASEAN) to resolve the currency upheaval.

ASEAN comprises Indonesia, Brunei, Malaysia, Singapore, Thailand, the Philippines, Vietnam, Laos and Myanmar.

The Thai baht, the Philippine peso, the Indonesian rupiah, the Malaysian ringgit and even the Singapore dollar have dropped sharply against the U.S. dollar since July.

Thailand and Indonesia have been forced to seek emergency assistance from the international community including the International Monetary Fund.

Singapore agreed last month to extend a US$5 billion stand-by loan to Indonesia. Malaysia also offered $1 billion in bilateral aid, while Japan pledged $5 billion. (prb)