Ancient Rolex About a 1943!

[Bisquitlips]

Guys, please forgive me if I am doing this incorrectly, but I am ever learning from this forum.

I have a friend that is very interested in having this Rolex restored. It was his father's and was passed down to him. His dad purchased it from a Filipino soldier in 1945 when he was one of the American soldiers securing the Philippine islands. His father told him he actually believed that this watch was taken from a fallen soldier by the Filipino that sold it to him.

Anyway, his dad wore it for over 35 years.

The watch appears to be a boys or ladies size Rolex. But that is just a guess on my part. The dial reads Rolex Oyster "Speedking".

Here are the photos and any information would be GREATLY appreciated.

The questions are:

Is it worth having restored?

For those who are astute in Rolex restorations: What would be the cost of having it restored? (I know that is a relative question). The stem was replaced by a watchsmith years ago and does not screw down as it is too large to contact the threads.

How much is this watch worth?

I found a few of them on eBay, but he just wants to have credible opinions.

Thank you!

Richard