MANILA — Two Chinese-Filipino kidnap-for-ransom victims were rescued in a police operation in the Calabarzon region, the Philippine National Police (PNP) said Tuesday.

The victims, a 21-year-old student and his 34-year-old businessman cousin, were reunited with their families Tuesday morning after 10 days in captivity.

The alleged kidnappers, identified as Rolly Castillo and Jerameel Ventura, were killed in a shootout with police in Pililia, Rizal, police said.

PNP officer-in-charge P/Lt. Gen. Vicente Danao Jr. said the victims were "snatched at gunpoint" in Tondo, Manila last June 4.

The suspects had demanded a ransom of P100 million in exchange for the victims' release.

“The timely report of the victims’ family to the police allowed the PNP Anti-Kidnapping Group under Police Brigadier General Rudolph Dimas, to take immediate action on the case to secure the safe rescue of the victims," Danao said.

The victims' family later made a counteroffer, to which the kidnappers agreed.

A ransom payoff was initially set in Calamba City, Laguna, but was later moved to Pakil, where the suspects got the ransom. The victims were released in Famy town, Danao said.

Authorities tracked down the kidnappers' getaway vehicle and encountered them in Pililia, Rizal.

Both suspects were killed while a police officer was wounded in the shootout, the PNP said.

Authorities have moved the recovered pieces of evidence to the custody of the Forensic Group for examination.

“What is more significant here is the cooperation of the victim’s family with the police that led to the early solution of the case and safe rescue of the victims," Danao said.

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