If you know someone that can take you to Quiapo, Manila, you can get some good deals there.
It is somewhere in a street called Raon. The street is famous for selling electronic/electrical parts. But remember, be with someone that knows that area well, (a friend or relative maybe).
Guitars are very cheap there (compared to the prices of guitar sold in Malls). I bought an acoustic guitar (Fernando brand). I don't know the model but it has a built in pickup (inside the guitar, I cannot see it in the guitar hole), it also has a tuner and a 3-band equalizer. I bought it at P4,500. Around 150SGD.