Kelly Williams follow-up off a Kim Valenzuela miss with 12.2 seconds to go broke a 65-all deadlock and sent the Wizards to their sixth win against a loss which came only two days ago against the Far Eastern Insurers, 60-65.
After making five of his first eight shots, Dennis Concha missed a driving lay-up that could have sent the game into overtime.
Instead, Granny Goose, which downed Rain or Shine, 77-71, Thursday, fell to its third loss in seven outings for joint second place with Hapee Toothpaste.
"We shot ourselves on the foot in our loss to Far Eastern. I dont know what happened," said Magnolia coach Koy Banal.
In the first game, Hapee-PCU crushed Far Eastern Insurance, 91-79.
After getting outscored in the second quarter, 10-19, to trail, 23-31, at the break, the Wizards clawed their way back and seized a 40-37 lead late in the third period.
Earlier, Hapee Toothpaste-Philippine Christian University drew a huge game from Gabby Espinas as it ripped Far Eastern Insurance, 91-79, for its fourth win in seven outings.
Armed with renewed vigor after recovering from a left foot injury, Espinas was almost unstoppable inside as he came up with 22 points and 13 rebounds for the Teeth Sparklers.
"He (Espinas) was slowed down by his foot injury. But our long break helped him recover," said coach Junel Baculi whose Hapee Toothpaste squad came out smoking from a 16-day respite.
The Insurers, who won their last two games over the Wizards and the Tortillos, absorbed their fifth setback against two triumphs.