LOCALLY known as Bakong, the Hanguana Malayana has become one of the major sources of livelihood for farmers in the Santa Teresita town in Cagayan province, helping them overcome poverty.

Bakong is a good source of fiber for various products such as gifts and housewares, textiles, high-grade paper, wall decor, and other artworks and furniture, among others. Santa Teresita's local government unit (LGU) said finished products made from Bakong are now internationally admired and have been exported to customers abroad on a 'made-to-order' basis.