Senior Superintendent Mark Edison Belarma, Criminal Investigation and Detection Group chief, said the slain men Police Officers 1 Sigmund Allan Jael, Roland Patag and Michael Aguado were engaged in extortion.
They were all assigned at the Calabarzon police force, he added.
Police said Jael had a pending case involving drugs in Quezon province.
Aguado was facing an administrative case and Patag was detained at Camp Vicente Lim, he added.
Belarma said at about 3:15 p.m. the Regional Special Operations Group under Superintendent Roger James Brillantes encountered the three who were on motorcycles in Barangay Banlic.
The suspects were planning to extort money from a businessman in Cabuyao when they were killed, he added.
Police are investigating the killing.With Arnell Ozaeta