The 107 passengers and 35 crew members of the said vessel were safe and transferred to other ships and boats after the ship captain issued an abandon-ship order at 6 a.m. before the vessel sank (at around 8:50 a.m).
The Philippine Coast Guard is still investigating the reason behind the sinking.
Operated by Trans-Asia Shipping Lines Inc., M/V Trans Asia Malaysia left Cebu at 6 p.m. Saturday and was scheduled to dock in Iloilo at 8 a.m.
Here's a video of the ship just before it sank (courtesy of "airgrouppcg"):
