MANILA, Philippines -- (UPDATE) Police and military forces in Metro Manila have been placed on red alert after what Director General Avelino Razon Jr. said was a likely bomb explosion at the Glorietta 2 Mall in Makati City that killed up to eight people and wounded around 70 more.

"The NCRCom [National Capital Region Command has just declared red alert in anticipation of any eventuality in relation to the alleged bombing in Glorietta, Makati," NCRCom spokesman Captain Carlo Ferrer said.

"All units under the NCRCom are ready to assist the PNP [Philippine National Police] to prevent a repeat of the incident," Ferrer said.

National Capital Region Police Office (NCRPO) chief, Director Geary Barias, also instructed policemen to secure all other malls in Metro Manila while investigations into the Makati explosion are ongoing.

Barias said police are not discounting the possibility of a terrorist attack.

"Rest assured that we are taking all necessary measures here and in other malls," Barias told reporters.

Barias advised the public not to panic.

Under a red alert, all police and military leave passes are cancelled and all uniformed personnel required to report to their units.