President Rodrigo Duterte has no plan of lifting martial law despite neutralization of the leaders of the Islamic State-inspired Maute terrorist group in war-torn Marawi City.

In a speech at the 43rd Philippine Business Conference and Expo in Manila on Thursday, Duterte said that Malaysian national Mahmud Ahmad, alleged terrorist financier, was also killed in Marawi.

"He (Ahmad) was taken this afternoon. And that completes the story," he said, citing the death of Isnilon Hapilon and Omar Maute last Monday in a military operation.

Duterte has declared earlier Marawi was free of terrorists despite the still ongoing operations against the remaining stragglers.

But despite this, Duterte would not yet lift martial law.

"When the time came, I declared martial law. Everybody is asking when will it stop? It will not stop until the last terrorist is taken out," he said.

Duterte placed the entire Mindanao under martial law on May 23 shortly after the terrorists occupied Marawi.

It was supposed to be implemented for only 60 days. But Duterte sought congressional approval to extend the state of martial law until end of the year to fully address rebellion in southern Philippines. Celerina Monte/DMS