SINGAPORE - Prime Minister Lee Hsien Loong has sent a condolence letter to the family of former Fraser and Neave Group executive chairman Michael Fam, who died on Saturday aged 87.

Describing Mr Fam as a "rare, selfless individual who contributed greatly to Singapore throughout his life", Mr Lee said the successful businessman performed an "enormous amount of public service", often at "considerable personal sacrifice".

"Time after time, Michael answered the call of duty steadfastly and without any hesitation," Mr Lee added in his letter on Monday, which was addressed to Mr Fam's wife Dulcie.

He cited several examples when Mr Fam agreed to take on public duties, including assuming the chairmanship of Haw Par Brothers International when it was on the verge of bankruptcy.

"Within a short time, he restored Haw Par's health, protected the savings of thousands of shareholders and saved the jobs of many employees," Mr Lee recalled.

Mr Fam also chaired the Mass Rapid Transit Corporation when it was formed in 1983 to build Singapore's first MRT lines. Under his leadership, the team completed the complex project well within budget and two years ahead of schedule.

"Michael's legacy will live on as we remember his life and his contributions to Singapore. He embodies what it means to give back to society, to make lives better for all," Mr Lee said.

He added that his thoughts were with Mr Fam's wife and family during their time of sorrow.