By Lou Aguila (staff@latinospost.com) | First Posted: Aug 09, 2013 11:42 PM EDT

The 2013 FIBA Asia Championship semifinals are all set as two-time Asian champion Iran takes on giant-killer Chinese Taipei while the Philippines defends their territory against South Korea on Saturday at Mall of Asia Arena in the Philippines.

Friday's quarterfinals produced one of the most shocking upsets in the history of FIBA Asia when Chinese Taipei shot their way to a 96-78 victory over China, the 15-time champion in Asia's most prestigious basketball tournament.

Leaning on their naturalized center Quincy Davis III and a bevy of pure shooters, Chinese Taipei will take on another hoops power in Iran at 5:30 a.m E.T.

Iran, two-time FIBA Asia champ, has been dominant in the tourney thanks to the towering presence of former Memphis Grizzlies center Hamed Haddadi. The veteran duo of Mehdi Kamrani and Samad Nikkhah Bahrami can also inflict damage anytime so Chinese Taipei should have a better gameplan to contain Iran's three stars.

Finally in the main event of the evening, the Philippine Men's National Basketball Team will try to erase the pain of past defeats at the hands of the Koreans as they gun for a victory before their home crowd.

The Philippines has been the most electrifying team in the tournament, beating top Asian teams like Japan, Jordan and Qatar. Naturalized center Marcus Douthit has been playing hurt for the past two games, but he's expected to have solid support from the other veterans, primarily sharp shooters Jeff Chan and high-flying Japeth Aguilar.

Meanwhile, the South Koreans will counter with their homegrown talents as they look to sustain their superiority over the Filipinos. Philippines-South Korea showdown will start at 8:30 a.m ET.

Hot Sports Story: Boxing News: Manny Pacquiao Thinks Canelo Alvarez Can Knock Out Floyd Mayweather Jr.; Pacman Advises Mexican to Improve Speed

Schedule, Live Streaming Info and Stats

Iran vs. Chinese Taipei (5:45 a.m), Philippines vs. South Korea (8:30 a.m)

Live Streaming is available on FIBA Live Basketball TV and IBT Sports. Running scores and statistics is available on FIBA Asia Championship 2013 official website.