Sikil tells the story of two men and a woman who are involved in a bizarre love triangle. These three friends grew up in a small town south of Manila. Enzo is a young closet gay prostitute who's obsessed with his childhood friend who happens to be a call-boy and has a girlfriend. Other interesting characters are the bi-sexual pimp, a regular bathhouse customer, and a sampaguita vendor-pickpocket-shoplifter and caretaker of Adong's daughter.
In World War II veteran Lolo Melo enjoys regaling his grandson Jobert with war stories, one of which includes Lolo's participation in burying the famed Yamashita treasure. When Jobert heads to Manila to unearth the cache, little does he know that he has competition: A shadowy G-man and a soldier of fortune are also in pursuit of the loot.