This species of beetle that the seller told me is "Salagubang" is a local delicacy. The lady selling this live de-winged insects met me as I going out of the Piat church gate. She showed me a pound bag of squirming, live beetles and told me how to prepare it. Apparently, you can either deep fry it or cook it with vinegar, soy sauce, garlic and black pepper! :)
BTW, each bag costs P50 (1 USD).