Out of our normal wheelhouse of items, but the research needed to correctly identify and price this type of item is very fulfilling. Definitely educational.
This Philippine Punal dates back to the 1940's and before, so I expect that it is a WW2 bring-back from the Pacific Theater.
This knife is constructed of steel, aluminum, and wood. It has an 8 1/4-inch blade. The scabbard is wood and aluminum. The total overall length with the knife in the scabbard is 12 1/2-inches. All of this material was readily available before, during, and after WW2. Both pieces have matching hand engraved decorations.
Please check out the photos to determine condition and value for yourself.