WHEN Minister Mentor Lee Kuan Yew opened NTUC FairPrice's first outlet 35 years ago, he said 'this cooperative supermarket will be efficiently managed just like any commercial supermarket'.

And this is the fundamental principle that FairPrice has always worked on.

Yesterday, MM Lee was back again as the guest of honour at the very same outlet, at Lorong 4 Toa Payoh.

It was for yet another milestone as NTUC FairPrice renews its commitment to moderate the cost of living.

A new logo, framed by the NTUC's new 'U', signifies the cooperative's close relationship with the labour movement.

At the heart of the logo are the three ticks that stand for FairPrice's promise to deliver quality products at best value and service to customers.

The store - known initially as NTUC Welcome - was founded by the labour movement to combat profiteering and moderate the cost of living.

Chairman Ng Ser Miang said: 'We have grown from strength to strength, but we have stayed true to our commitment to ensure that essential goods will always be available to all consumers at fair prices.'

And grow the retailer did - from one store with 30 workers to more than 200 stores islandwide, providing more than 6,000 jobs to workers.

Take for instance Mr Peter Teo, 49, who first joined the company as a trainee supervisor in 1981.

'When I first started, I was given only one lane of products to look after,' Mr Teo recalled.

But he has risen through the ranks and today is the deputy general manager for hypermarket operations.

Said Mr Teo: 'It's not just about working hard but how your efforts are recognised and duly rewarded.

'I was lucky because I was given plenty of chances to work in various outlets and divisions.'

And for this reason, he uses the same satisfaction he derives from his job to motivate his team now.

Best service

'I feel it's important that they realise FairPrice is not just about giving the best to customers,' said Mr Teo.

'It is also about taking care of our needs and looking after our interests. As such, it's only natural that we'll work even harder to provide the best service to our customers.'

NTUC FairPrice Foundation donated $3.5 million to NTUC to help low-wage workers cope with the recent increase in living costs.

FairPrice has also pledged to keep the prices of essential goods low with its basket of EveryDay Low Price items.

There are more than 2,000 house brand products that are priced 10 to 15 per cent lower than other brands.

What it's all about

• The new logo with the NTUC 'U' signifies the cooperative's close relationship with the labour movement.
• At the heart of the logo are the three ticks that define FairPrice's promise to deliver quality products at best value and service to customers.
• Red represents the NTUC unity and its passion to serve its customers and the community.
• Blue represents professionalism.
• Both colours combine to represent FairPrice's core values of customer focus, teamwork and professionalism.

This article was first published in The New Paper on August 30, 2008.