MANILA - The murder of a big auction firm leader at the Subic Bay Freeport Zone was conducted by a professional who waited for 2 hours to kill his target, the head of the Subic Bay Metropolitan Authority said Thursday, citing initial probe results.
SBMA Chairperson Wilma Esma said the lone gunman waited for hours for United Auctioneers Inc. founder and CEO Dominic Sytin to come out of the hotel so he could make the kill.
"Siya po ay inabangan sa isang hotel kung saan siya natutulog. It was very calculated. It was very professional. Dalawang oras pong hinintay ang pagbaba ni Dominic," she told DZMM.
Esma said Sytin died on the spot after sustaining 4 gunshot wounds, with a fatal one in the head. The businessman's body guard was also wounded and rushed to the hospital.
Witnesses said the gunman, who was wearing a bandanna, casually walked back to a motorcycle driven by an accomplice before fleeing the scene.
Police are still trying to piece together the possible motive behind the killing.
Calling Sytin a friend, the SBMA chief condemned the killing and said there will be let-up in the investigation of the case.
Sytin's UAI is one of the country's biggest auction firms. It has sold over 125,000 units of various industrial, transport, and construction machines to over 48,000 foreign and local buyers.
Sytin founded the auction company in 1998, according to an April 2017 feature in CEO Magazine. The company is a corporate sponsor of the UP volleyball team.
The trader was an alumnus of UP with a double degree in business administration and accountancy.
The Lady Fighting Maroons, the women's volleyball team of the University of the Philippines, offered their condolences to Sytin's family.
"You’re one of the reasons we’ll keep on fighting. Rest in peace and thank you @UaiAuction CEO, Dom Sytin!" they wrote on Twitter.
Sytin's company is a corporate sponsor of the volleyball team.