Swingman Aaron Aban, one of the strong contenders for the MVP plum, and veteran playmaker Boyet Bautista each scored 14 points for Letran, which made it to the semifinals for the third straight year.
But for Letran coach Louie Alas, reaching the semis is one thing, making it all the way to the championship is another.
"It doesnt mean a thing (9-0) without the championship ring. Thats still our primary goal," said Alas. "Im very happy now that were in the semis, but we must not relax and slow down. We have to keep on improving."
Alas commended his players poise in the crucial stretch when the Altas closed to within one, 49-50, following a jumper by point guard Khiel Misa with 2:53 left in the contest.
But the Knights tightened their defense and countered with a 9-2 run with Bautista joining hands with JP Alcaraz (10 points) and Jonathan Aldave that secured the win for the Intramuros-based dribblers.
Perpetual, which finished second last year behind eventual champion Philippine Christian U, took its sixth loss against three victories as it dropped into a tie with San Beda College and College of St. Benilde for fifth-seventh places.
Misa led the Altas with 16 points, while Jonjon Refuerzo and Vladimir Joe contributed 12 and 11, respectively.
In the second game, Jose Rizal U upended Mapua, 51-43, to notch its second win in nine games and keep its flickering Final Four hopes alive.
Armando Maniego scored 14 points to lead the Heavy Bombers, who also drew 13 and 12 points from Jrenciano Domangcas and Floyd Dedicatoria, respectively.
The Cardinals, who got 12 points from Neil Pascual, dropped their second straight game in the second round, although they remained at solo third place in the standings with a 5-4 record.
The Squires made it a twin-kill for Letran as they downed the Altalettes, 92-32, with Darrell Green firing 25 points on top of nine rebounds, while Christopher Alas, son of Louie, chipped in 10 points.