Aaron and Giselle are an ambitious couple, but their hard work isn’t enough to provide for the comfortable life they desire. The marriage of their well-to-do bosom buddies, Bullet and Jasmine, also goes from bliss to bleak. Their situation heads further south when Bullet ends up in bed with a distraught and inebriated Giselle! Many confrontations later, Jasmine is seen sharing late-night trysts with Aaron while their repentant spouses patiently wait for them at home! With friends like these, who needs enemies?

Tour guide Berta is having a tough time making ends meet. She’s forced to let her son Omel travel to the big city to take a job at an electronics store. Luis is studying to be a seaman, but can’t seem to pass his exams. His girlfriend Dolores is working as an intern at a resort, and dreams of going abroad as well. Sandra, following a painful event back in Manila, returns to her native Bohol, taking her spoiled son Eric with her.

Evangeline spends most of her time working late, editing TV commercials. Her work doesn’t leave her much time to spend with her boyfriend Joey or their son. In spite of having a family, she mostly keeps to herself, enjoying her independence. But when her priest brother Johnny is diagnosed with cancer, she’s suddenly called on to be a possible bone marrow donor. As her dysfunctional family starts to gather around the ailing Johnny, Evangeline is forced to come face to face with her failings.

A snake creature secretly lurks inside a shopping mall. A family is fed a meal that turns them into monsters. An airplane hijacking is interrupted by the birth of a tiyanak.

Ang Panday 2 begins with Flavio/Panday (Revilla) and Maria settling in the peaceful and quiet town of Matandang Kahoy. All is well until Lizardo returns and captures Maria. On his quest to save his lady love, Flavio crosses paths with Ariana whose father had been killed by Lizardo. As the two join forces, Ariana finds herself falling for Flavio. All this happens in a magical world filled with dragons, fairies and other mythical beings. According to Director Carlo J. Caparas who penned the story, the King of Philippine Movies himself, the late Fernando Poe Jr., would be impressed with the production of Ang Panday 2. FPJ had starred in the original Panday films, and had long been associated with the beloved Pinoy komiks character.