Sangguet is a curved knife used by these folks to trim the coconut flower so that they could collect the sap to make "tuba" the famous intoxicating coconut wine. "Mananguet" is the visayan verb that means to trim and collect the sap thus, "mananguete" refers to these men who are doing the job.
I saw several young boys climbing these trees, maintaining them on the resort grounds where I stayed, and I could barely look as the wind swayed them along!
I certainly agree with Nunes and mykl.
(What is "mananguete"?)
