Just to clarify just in case some readers will get the wrong idea: the posted list is not the based on the bracketing of teams, but it's just the list of the 20 countries that have qualified, as well as the 4 wildcard entries. The draw will be held on Feb. 3.
That being said, the Philippines CAN beat South Korea and New Zealand. With a healthy naturalized player, the Philippines can probably beat Iran. The Philippines has a realistic chance of beating Australia and Senegal. Depending on how they adjust to Euro-style basketball, the Philippines also has a realistic chance of beating Finland.
How well the Philippines will fare greatly depends on the luck of the draw, as the cliche goes.