Flashpoint's Andrew R. Tennenbaum, whose credits include The Bourne Identity and The Bourne Supremacy, will produce the remake.
The original film, produced in 2004 by JCE's Jackie Chan, Albert Yeung and Willie Chan and sold internationally by Emperor Motion Pictures, was directed and co-written by its star Stephen Fung.
'This is my first Asian film remake and I couldn't be more excited,' said Tennenbaum. 'Stephen tells a great story and has a terrific sense of humor; this movie should be remade for a bigger, broader audience.'
Tennenbaum is currently meeting with writers and directors to adapt the film. William Morris Agency 's Shanghai office helped to broker the deal.
Hong Kong-based JCE Movies, a joint venture between Emperor Group and Jackie Chan's JC Group, has also produced Benny Chan's Rob-B-Hood and New Police Story, both starring Jackie Chan, Fung's House Of Fury and Stanley Kwan's Everlasting Regret.