Sydney’s warring underworld has sunk to a terrifying new low after a shooting at a pre-funeral service for a murdered crime boss with the spray of bullets recorded and posted to social media.

Police were called to the the Diamond Venues Group event space on the corner of Punchbowl and Canterbury Rd, Punchbowl, after multiple gun shots were fired at the venue about 2.20pm on Saturday.

Meghan Markle and Prince Harry Share Glimpse of Family Trip to DisneylandNews Hunter|
Sponsored

KC official fired after talking to FBI, new luxury brand heading to Plaza: Top storiesMcClatchy|
Sponsored

by Taboola

The shots were fired from an unknown SUV, police said, before it drove away from the scene. No injuries were reported.

A short time later, police said they were called to Gillian Pl, Punchbowl, following reports of a car fire.

Fire and Rescue NSW arrived and extinguished the blaze, however, the car sustained significant damage.

Crime scenes were established at both locations, with initial inquiries indicating the two incidents were linked.

Footage shared shortly after on social media shows the 10 seconds of mayhem as a rifle type firearm is pointed out of a car window before more than 30 shots are fired.

The clip appeared to be filmed from inside the offender’s car by another occupant before being uploaded online.

The shooting at the event space is believed to be linked to the public assassination of a suspected Sydney underworld figure in Vietnam.

Lorenzo Lamalu, 24, was gunned down at a restaurant in Ho Chi Minh City in late May.

CCTV of the shooting shows a man open fire at Lamalu and another man on a footpath in front of horrified onlookers.

The gunman is then seen chasing Lamalu into the restaurant.

An associate of Lamalu’s, who was identified by local media as Sam Sauni, 27, was also critically injured in the attack.

Lamalu is believed to be the mastermind behind a Sydney criminal organisation, colloquially known as the “Coconut Cartel”, which declared war on the rival Alameddine gang earlier this year.

Lamalu’s body was returned to Sydney on Saturday afternoon and moved into the Diamond Venues Group event space, with his family believed to be inside paying their respects during a pre-funeral memorial.

Police were later seen collecting evidence and photographing what appear to be bullet casings outside the building.

Lamalu’s funeral is scheduled for Lakemba Mosque on Sunday, with a body burial taking place in Leppington after that.

7NEWS understands police are concerned for the safety of that event, and are now discussing having it postponed.

Locals have been left shocked by the daylight shooting.

“I was on the phone to my mate and pretty much told him, I think I just heard gunshots,” one told 7NEWS.

“Obviously scary. I immediately was like to my mum, I think we should move houses,” another said.