Edit!
After some investigation I found a reversed panda, can someone confirm this? I think this is the one.
Ref nr 40532 馃摉
I think that since he was a flight lieutenant it's less likely to be a diver and more likely to be a pilot's watch. Unless he was fond of diving, then...
Looks as if he wasn't a pilot or navigator.
Special Duties Division
Warrant Officer Dudley 'Wybert Simpson (70996) is granted a short-service commission in the Administrative and Supply Branch (Special Duties Division), Regular Air Force, for a period ending 10 December 1973 to be followed by four years in the Reserve of Air Force Officers. He is appointed in the rank of Flight Lieutenant with seniority from 17 October 1966, with effect from 17 October 1967. http://www.nzlii.org/nz/other/nz_gazette/1968/7/4.pdf