(Updated Oct. 20, 12:02 a.m.)
The Close-Circuit TV footage of Sunday's robbery of the Rolex watch store in Greenbelt 5, which took place in just five minutes, has been shown to the media. Police say they have identified the suspects to be part of the infamous Waray-Waray and Angpang-Colangco gangs and are looking into the possibility that mall guards may have been in cahoots with the robbers. Watch this video from QTV:

(Updated Oct. 18, 8:01 p.m.)

Greenbelt 5 shoppers panicked and sought cover inside restaurants and even a restroom for about two hours during the Rolex store holdup, shootout and robber chase that started around noon today, according to this report from 24 Oras.

According to this report from 24 Oras, six armed and hooded men in bomb squad uniforms entered the Greenbelt 5 entrance nearest the Greenbelt Chapel, forcibly dragged the security guard manning the doors and headed straight to the Rolex store to rob it, even shooting at the glass showcases housing the expensive watches. One of the armed men was killed in a shootout that ensued when the Makati PNP and mall security men arrived at the scene.

(Updated at Oct. 18, 2:39 p.m.):

As of 1 p.m., shops and restaurants in Greenbelt 5 had closed, but a report from ANC said that the perpetrators had already escaped through the basement parking area. One of the suspects was killed in the shootout that occurred.

(First posted at Oct. 18, 12:10 p.m., updated at 1:02 p.m.)

A shooting occurred between police and suspected robbers in Greenbelt 5 at around 11:45 a.m. on Sunday, October 18, reports GMANews.tv.

As of 12:25 p.m., PO3 Romulo Molen told dzBB radio that reports reaching him said that members of the Makati Police were chasing suspected robbers in the basement of the Ayala Museum after an attempted robbery of an establishment in Greenbelt 5, the upscale mall beside the Ayala Museum in Makati.

Oct. 18, 12:10 p.m.

SPOT.ph has received unconfirmed reports that the Rolex store in Greenbelt 5 was held up at around 11 a.m. by six or seven armed men dressed in bomb squad uniforms, and that the hold-up gang has a hostage and is still in the basement, which has been sealed off by security.

Witnesses say that shocked Sunday mall-goers started running for cover and have been asked to stay put until the matter has been resolved. Meanwhile, Sunday mass is still ongoing as a fully armed SWAT team has entered the basement parking on the De la Rosa St. wing.

Keep tuned in to SPOT.ph for further developments in this story.