Malaysia and Indonesia are Singapore's two most important partners, says Singapore Prime Minister Lee Hsien Loong.

"We work hard to build our ties, but these are sensitive, complex relationships," he said when delivering his English speech at the National Day Rally 2016 at ITE College Central.

"There will be differences from time to time, because of their deep-seated attitudes towards us, but today, on the whole, relations with both countries are good," he said.

Earlier, Lee delivered the speech in Malay and Mandarin, as well.

Last month, Lee said, he was in Putrajaya, Malaysia to witness the memorandum of understanding on the High Speed Rail between Singapore and Malaysia.

"PM Najib hosted us to lunch. The durian was good, but the High Speed Rail will be better!," he said while the large screen behind him showed a photo of him with Malaysian Prime Minister Datuk Seri Najib Tun Razak.

Lee noted that Malaysia and Singapore had settled the Points of Agreement (POA) on Railway Land.

"Twenty years both countries have tried and succeeded," he said and sparked a round of applause from the audience.