What is out there now is not from the Philippines, and is a little different from the original "Philippine mahogany" It is in the "extremely endangered" list.
From the Wood Database:"Meranti is not listed in the CITES Appendices, but many species in the Shorea genus are on the IUCN Red List. The majority of Shorea species are listed as being critically endangered due to a population reduction of over 80% in the past three generations, caused by a decline in its natural range, and exploitation."
It's possible that the pallets were reused many times and were made when the wood was plentiful. At any rate, don't use it for firewood. It is pretty rare.
Sharon