Does the room acoustic treatments already? Or you have a separate budget for that? All locally sourced with local warranty?
Top of mind suggestion:
AVR: Denon AVR-4311
FRONT: PSB Image T6
SURROUNDS: PSB Image S5 or Image B6
REARS: (esp if room is big) PSB Image B6
CENTER: PSB Image C50
SUB: two SVS PB12NSDs or higher
Local approximate prices (I don't have exact prices right now and you could get generous discounts pa ata): the 4311 is around 105k list price (could be discounted already with the new Denon 4520 coming), the PSB Image will set you back around P120K, and the SVS subs around P80K. Wala pang cables and interconnects.