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Was Singapore just a fishing village?

It has often been said that Singapore was just a "fishing village" before independence and the arrival of the People's Action Party.

"Many years ago, when Singa pore was just a fishing village, our forefathers came here in search of a better life. In 1965, after a period of communist and communal strife, independence was thrust upon us. Suddenly we were on our own. But we worked hard and built modern Singapore from scratch."

Prime Minister Lee Hsien Loong's National Day Message 2006

Was what PM Lee said, true? Watch this short documentary and decide for yourself.