A businessman and two companions died when their helicopter crashed into a fishpond in Malolos, Bulacan ar 12:30 pm Thursday afternoon.

Police Col. Bernard Banac, Philippine National Police (PNP) spokesperson, said the businessman was Liberato Laus, chairman of the Laus Group of Companies. Automotive dealership is the core business of the Laus Group of Companies.

Laus and the pilot identified as Everette Colonel were declared dead on arrival at the Bulacan Medical Center.

The magnate's companion, Wilfran Esteban, was pronounced dead while receiving medical treatment.

Police are investigating the cause of the crash. Cristina Eloisa Baclig/DMS