Bolkiah to meet Soeharto

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)