Luat, the last player to qualify in the main draw, stunned two-time world champion Johnny Archer of the United States while Andam downed Che Wei Fu of Taiwan as they gained two shots at the semifinals of the tournament.
With Archer threatening at 7-8, Luat holed the striped nine on the corner pocket with a carom shot through the green six while using a bridge.
Earlier, Luat upended reigning world champion Alex Pagulayan, 9-7, in the opening round then followed it up with a 9-4 rout of current world No. 1 Neils Feijen.
But Luat will have to face Andam to take one of the two semifinals slots staked in the winners side.
The loser in the upcoming all-Filipino duel will have another crack at the semis by going up against one of the survivors in the losers bracket.
Rodney Morris of the US and Yang Ching Shun of Taiwan, both undefeated, will dispute the other outright semifinal spot.
Morris clobbered Imram Majid of the United Kingdom, 9-6, while Yang crushed Thomas Engert of Germany, 9-5.
Still in the hunt for the $20,000 top purse at press time were Filipinos Efren "Bata" Reyes, Pagulayan and Marlon Manalo and big guns Mika Immonen, Marcus Chamat, Chang Pei Wei and Jeong Young Hwa.
Francisco "Django" Bustamante, two-time world champ Chao Fong Pang of Taiwan and 2003 world pool ruler Thorstenn Hohmann of Germany were among the casualties on the first day of the money round. Also packing their bags Monday were Americans Corey Deuel and Gabe Owens.