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 passed away on Saturday at the age of 87.
PM Lee said this of the late Dr Fam: "Michael was a rare, selfless individual who contributed greatly to Singapore throughout his life. A successful businessman, he found the time and energy to do an enormous amount of public service.
"Time after time, Michael answered the call of duty steadfastly and without any hesitation. He did so purely as public service, often at considerable personal sacrifice."
Citing a few examples of instances when Dr Fam agreed to take on public duties, PM Lee said: "In 1975, at the request of the Monetary Authority of Singapore, Michael assumed chairmanship of Haw Par Brothers International Ltd, a large local company 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."
When Singapore started building the first MRT lines in 1983, Dr Fam also chaired the Mass Rapid Transit Corporation (MRTC). Under his leadership, the project was completed "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," said the Prime Minister.
PM Lee also said that his thoughts are with Dr Fam's wife and family during their time of sorrow.