The species occurs in the Philippines and Taiwan, Province of China. It is typically found in lowland thickets and forests at an elevation of 84 to133 m above sea level. The estimated extent of occurrence (EOO) for this species is 360,864.823 km², with an area of occupancy (AOO) of 40 km². In the Philippines, the species is present in eight locations, while in Taiwan, it is known from only two locations. The population size remains uncertain. Although the species has subpopulations within declared protected areas, conservation of the population is not guaranteed. Hence, a population decline is suspected due to continuous land use change and habitat degradation. Data from 2001 to 2021 shows that there was a tree cover loss of about 72,055 hectares across its range. Commodity-driven deforestation, logging activities, shifting agriculture and urbanization serve as dominant threats. Given its small AOO and number of locations, the species is assessed as Vulnerable B2ab(i,ii,iii). Further research is recommended to estimate its population size and verify the scale of decline.

This species is indigenous to the Philippines and Taiwan, Province of CHina, occurring in lowland thickets and forests in several locations such as Mount Hilong-hilong and Cabadbaran City in Agusan del Norte, Grotto and Mount Iraya in Batanes, Lake Lanao in Lanao del Sur, Dagami in Leyte and Malangas in Zamboanga Sibugay in the Philippines. It is also found in Dan-tau, Orchid Island, and Wu Chuan Road in Taiwan, Province of China. The plant typically thrives at an elevation of 84 to 133 m above sea level (Merrill 1923, GBIF 2022). The species has an extent of occurrence (EOO) of 360,864.823 km² and an area of occupancy (AOO) of 40 km² accounting for its 10 identified locations that are continuously threatened by commodity-driven deforestation, logging activities, shifting agriculture and urbanization (GFW 2022).

There is no information on the population size of the species. However, a decline is suspected due to the continuous loss of tree cover within its distribution range.

It is a small tree species with a height ranging from five to 14 m. It occurs in lowland thickets and forests at an elevation of 84 to 133 m above sea level (Merrill 1923, GBIF 2022). There is no information on the phenology of the species.

The primary threats to the species is land conversion and habitat degradation due to commodity-driven deforestation, logging activities, shifting agriculture and urbanization. According to data from GFW (2022), there has been a significant loss of tree cover (72,055 ha) across the species' range (provinces) from 2001 to 2021.

Saponin from Palaquium formosanum has shown potential in the development of anti-cancer drugs, according to a study by Chen et al. (2018).

The species is currently not included in the Philippine Red List (DENR-BMB 2017). However, its occurrence in Mount Hilong-hilong, which is a Key Biodiversity Area, as well as in protected areas like Cabadbaran Watershed, Lake Lanao Watershed Reservation, Dumanquillas Bay Protected Landscape and Seascape and Batanes Protected Landscape & Seascape, provide some level of in situ conservation for the species. Additionally, it is known to exist in at least two botanic gardens globally (BGCI 2022). However, further inventory and research are needed to accurately assess the total remaining population size in the wild. This information would be crucial in developing a relevant conservation action plan.