The fatality was identified as Noel Altarejos, 32, of Taytay, Rizal. He sustained three gunshot wounds in the body.
Altarejos companion, Honorio Fariñas, 29, is now in critical condition after he sustained a gunshot would in the head. He is now confined at the Lourdes Hospital.
Police said that around 11:45 a.m., the victims were onboard a Nissan pick-up truck with license plate PWX-664 when the three motorcycle-riding suspects blocked their path at Luna Mensias street corner Shaw Boulevard.
The suspects fired at the victims and took an attache case containing P240,000 cash before leaving the area.
Superintendent Ericson Velasquez, Mandaluyong police chief, said witnesses have been invited to give statements and help make sketches of the three suspects.
The police chief also ordered a follow-up operation to track down the three suspects. Sandy Araneta