Here are the facts:

PR, more reliable relative to 5J. More likely to interline at HKG where you would just transit. From Palawan you will be flying to T3 and HKG departure is T2. Find out for sure that your bags will be transferred to HKG flight and whether there is complimentary transportation over to T2. You also have more of a margin timewise.

5J, not as reliable as PR. As a LCC less likely to have interline agreement. You will pay for baggage and overweight carryon. Any irrop on 5J will be a disaster.

Don't forget PR and 5J operate and run on Filipino time.