One person died while dozens of passengers were rescued when an 'overloaded' boat capsized in the Philippines on Saturday.

The King Sto. Nino 7 pump boat had departed from Calatrava Port in Romblon province on August 5 when a piece of wooden debris punched a hole in the vessel's port side.

The locals were forced to climb on the wreckage of the submerged boat, while the others were seen floating in the sea wearing life vests as they waited for rescue crew amid fair weather.

Coast guards and nearby fishermen rushed to rescue the distressed passengers and crew.

The Philippine Coast Guard said a passenger Annie Famadulan, 55, died of cardiac arrest during the ordeal, while three other passengers were slightly injured.

The deceased was taken to the Malapayon District Hospital for disposition, while the wounded were taken to Ilijan village for medical treatment.

Coast guards and police had conflicting reports on the number of passengers onboard.

Romblon provincial disaster office head Roseller Muros said that the boat had been carrying 116 passengers despite its maximum capacity of only 96.

Many of them were youths coming home from a summer church camp, Corcuera Mayor Elmer Fruelda said.

Passenger Alden Dy Fajilan said: 'The weather was not bad but the sea was rough because of the southwest monsoon. What we heard before the water started coming in was that there was a hole in the boat.'

The Maritime Industry Authority said it has has suspended the boat's safety certificate pending investigations.

The case is the latest in a string of recent maritime accidents in the Philippines, plagued by poor safety regulation enforcement, shoddy boat construction and maintenance, and overcrowded vessels.

On August 2, Philippine coast guards rescued 50 people on a sinking ship off Northern Samar province amid rough seas.

On August 3, all 70 passengers of a sinking ferry were rescued in Polillo, Quezon province.

While 27 people were killed when an overcrowded ship in Binangonan, Rizal set sail during Typhoon Doksuri on July 27.