Lieutenant Geronimo Diaz identified the fatality as Efren Albao who was shot at 4:30 a.m along Galvez Street, Pasay City by at least three men onboard a motorcycle.
He said two others were injured, but their names were not immediately available.
Radio reports said the fatality and his companions were inside an L-300 van while waiting for supplies for their chicken business when the suspects arrived and opened fire at their vehicle.
Albao, also a village official, was rushed to the hospital, but was declared dead on arrival.
Diaz said authorities were looking into politics and business as among the possible motives behind the attack.