New footage emerges after Sydney underworld figure shot dead in Vietnam

New footage has emerged of the events surrounding the assassination of Coconut Cartel boss Lorenzo Lemalu in Vietnam.

Australian authorities are on high alert for retaliatory attacks after the execution, which saw Sydney's gang war spill onto the streets of Ho Chi Minh, 7000 kilometres away.

The 24 year-old was shot dead outside a restaurant.

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Lemalu was a senior figure in that group after cutting ties with a gang linked with Sydney's Alameddine family.

It's their wrestle for the drugs trade which has seen escalating violence across the city.

In the Vietnam footage, a hooded hitman in a hat exits a restaurant circling behind Lemalu and his associates before unleashing several shots from a pistol.

Lemalu ran inside and crashed onto the floor.

Police are investigating if the shooting is linked to the ongoing feud.

A second member was also reportedly shot.

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Photos show men lying covered in blood on the floor of a restaurant in the aftermath of the shooting.

Trang Bang Ward Police in Tay Ninh have released images and names of two Australian men they want to speak to in connection with the shooting.

Retired NSW Police sergeant Glenn Gorick said the assassination was a "warning".

"If they can find you in Vietnam they can find you anywhere," he said.

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