A suspect in the kidnapping and subsequent murder of a Coca-Cola executive in 2003 was arrested on Thursday morning, a local TV reported.

Chief Supt. Dionisio Coloma, Eastern Visayas police director, told the ABS-CBN news channel that the suspect, identified as Silvestre Superable alias "Beyo", was nabbed in raid on his hideout in Jaro town of the central province of Leyte on a tip.

According to police, Superable is allegedly involved in several high-profile kidnapping cases, including the abduction of Chinese-Filipino Coca-Cola executive Betti Chua-Sy in November 2003.

He also tagged the country's third most wanted kidnapper, who carries an 800,000-peso (14,545-US dollar) reward for his capture,Coloma said.

Coloma also said that the police are looking for Superable's accomplices who allegedly fled before the raid.

After being abducted, Sy was shot to death and her corpse was abandoned inside a garbage bag near the seafront in Metro Manila, which shocked the country, especially the Chinese-Filipino community.

The alleged mastermind behind the kidnapping, Zosimo Lauzon, has been arrested in June 2004.

Source: Xinhua