Hi Genner,
The data that Moodle (and many other open source projects as well) bases the timezone calculation on seems to have been out of date in your case. The latest information we have is from 1978 and it notes the use of Daylight Savings time, while this page says that at least in 2005 Manila does not use DST.
Assuming this is all there is to it, we updated http://download.moodle.org/timezones/ to not have Manila use DST starting from 2005. You should now see the correct time. If you have a local installation of Moodle 1.5, you can use the automatic timezone update function to bring it up to date.
Jon
Testing and QA
Testing the new timezones on moodle.org
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