Blu-ray from 35mm prints ?

[drees5761]

This is a noob question i know, but is it possible to make a good quality Blu ray if the only surviving print is a 35mm one?
I ask this because i am a big fan of Hong Kong cinema and the releases of older titles there has been mostly very poor, the excuses by people that still buy them is that the elements are not available to make a better quality disc.
So if there is no negative available or its damaged can a decent HD transfer be done from a 35mm print (cleaned up etc)?