DAVAO CITY. Philippines. Aug 7: The body of a Chinese-Filipino businessman who was regional chairman of the Philippine National Olympic Committee was found Sunday one week after he was kidnapped here, police said, reports AP.

A civilian militia patrol found the body of. So Kim Cheng. 67. on the outskirts of this city 610 miles (960 kilometres) southeast of Manila, police said.

He had been hogtled and shot four times in the head and neck, they said. A cloth was stifffed in his mouth.

Police said his family was apparently unable to meet, the ransom demand.

So was seized July 31 by the gunmen at his pig farm in fhe village of Bunawan. 10 kilometres (6 miles) from here. Officials said the kidnappers had demanded 12 million pesos (dlrs 461.500) ransom.

They reportedly reduced the ransom demand and gave the family until late Saturday to meet it. The amount of the final demand was unknown.

The kidnapping was apparently unrelated to a wave of abductions by the Muslim extremist Abu Sayyaf group, which operates in the southern Philippines, including Davao. 960 kilometres (600 miles) southeast of Manila.

But Filipinos of Chinese origin have been targets of ransom kidnappings since a wave of abductions began in the early 1990s.

Police said So received threats from extortionists last year, but the police were not informed until the kidnapping.

So was also chairman of the Philippines Table Tennis Association.