We are here to learn.
Lew,
Taking the possibilities, the hilt to me looks more like a handle for parang jenguk/ginah (a sickle like blade) from Kelantan northern Malaysia. I haven't record any real old photos having such hilt for a keris panjang. Maybe that
tapak kuda floral carved type hilt form is for aesthetic reasons, but it could be as functionally for execution.
I doubt if that little dot of hole could hold enough cotton to clean the blood from the blade and cover the opening from the pierce as said.
