Singapore-based RGM Entertainment will finance and executive produce Point Break 2, a sequel to the 1991 Hollywood hit, with key Asian actors to be cast in principal roles.

'The movie will be shot entirely in South-East Asia, including Singapore, to bring the flavours of the region to a world audience. With emerging talent and an opening market, we believe that the future of movies is in Asia and we hope that we are able to capitalise on that with this movie,' said RGM's CEO Devesh Chetty.

The English-language sequel is budgeted at $20-30m, a significant portion of which is expected to be financed out of Singapore as well as partly come under RGM's loan guarantee facility (LGF). The company has produced three international films, The Girl In The Park, Pushing Up Daisies and Winged Creatures, using the LGF since late last year.

RGM's Singapore-based COO Christopher Taylor acquired the Point Break sequel rights from the film's producer, Largo Entertainment, when he was working with the company in the US. He will be one of the producers of the sequel.

As with the first film, surfing will feature in the sequel. The story revolves around an ex-professional surfer from the US Navy recruited to track down a criminal gang of surfers in South-East Asia.

'For many surfers, Indonesia is considered the last frontier of their sport so we have visited a few locations, including Bali and Banda Aceh, on this research trip,' says Point Break 2's writer-director Peter Iliff who is also the screenwriter of the original film. 'We also want to include a vibrant cityscape where you can live the high life, and Singapore was an obvious choice for us.'

While an Asian male lead and an Asian female love interest will be cast, RGM is in discussions with some of the original cast to reprise their roles. The audience will also discover the fate of Bodhi, the surfers' leader played by Patrick Swayze who was swallowed by a killer wave in the final scene of the first film.