The superbike champ was riding at high speed when he met the accident where he crashed into a steel bar which protruded from a still-unfinished barrier, puncturing his internal organs.
Despite efforts of the medical team to save his life, Buncio was declared dead at the UST hospital at 3:57 p.m. He was 22-years-old.
Last March, Maico Greg Buncio, who was acknowledged as the country's fastest man on two wheels, was named the Golden Wheel Awards' Driver of the Year.
And only last month, Buncio was chosen by Team Suzuki Pilipinas to be a represenative of the Philippines in the 2011 Asian Road Racing Championship (ARRC).