President Tony Tan Keng Yam posted a video message on the Istana website at 12.30am on Tuesday morning, after Mr Lee Kuan Yew died aged 91 at 3.18am on Monday morning.
Mr Lee died at the Singapore General Hospital where he had been warded for severe pneumonia since Feb 5.
Here is the text transcript of his video message:
"My fellow Singaporeans,
"Yesterday, we lost the founding father of Singapore, Mr Lee Kuan Yew. Together with all of you, I extend my deepest condolences to Prime Minister Lee Hsien Loong, Ms Lee Wei Ling and Mr Lee Hsien Yang and their families for their loss.
"Mr Lee Kuan Yew dedicated his entire life to Singapore. He served Singapore from our independence till his final days. What Mr Lee has left behind is a nation that is prosperous and peaceful, a nation where our families feel safe and secure, a nation that we are proud to call home.
"Mr Lee's vision for Singapore was of a country that defied expectations. Many doubted our survival as an independent nation in 1965. But Mr Lee believed in Singapore. He rallied colleagues, built up a capable civil service and led the founding generation of Singaporeans to achieve this vision.
"Mr Lee stepped down as Prime Minister more than two decades ago. But many of his basic ideas for Singapore live on - a respect for the rule of law, a multi-cultural society, a nation of home owners and a clean and green city.
"Mr. Lee's passing is a great loss to all of us.
"Let us build on his legacy to make Singapore an even better home for generations to come."