A palm tree is the party symbol for the Progress Singapore Party (PSP), led by former People's Action Party (PAP) MP Tan Cheng Bock.
The unveiling of the symbol, which has five fronds and a trunk in the shape of a person, comes a fortnight after the PSP was registered with the Registry of Societies.
Announcing the approval of his party's symbol yesterday, Dr Tan, 78, said in a Facebook post that it signifies "growth, purpose, strength and life".
The trunk in the shape of a person represents the party's belief that "people are its core interest and source of strength". The fronds, on the other hand, represent the five ideals which the party subscribes to: democracy, equality, justice, peace and progress.
"They also represent our multi-racial and inclusive society consisting of the four racial groups and new citizens," he said.
The PSP's party colours are red and white. He said red symbolises life, passion, energy and strength, while white symbolises purity, integrity and goodness.
"The Progress Singapore Party looks forward to serving the people of Singapore and will work hard to fulfil the ideals to which we subscribe," he added.
Political observer Derek da Cunha said a party logo is an exercise in branding.
"It should be easily identifiable by the voters, easily distinguishable from the plethora of other party logos, and aspirational, if possible.
"As such, a party logo should speak for itself, and should not require any explanation," Dr da Cunha wrote on Facebook.
The PSP has yet to announce officially its line-up but Dr Tan had said in a Facebook post in January that the party comprises 11 other "like-minded Singaporeans". Meanwhile, he has been seen doing the rounds of hawker centres in Bukit Timah, Ang Mo Kio and Ghim Moh in recent months.
He entered politics in 1980 and was a six-term MP for the former single-seat constituency of Ayer Rajah.
In 2006, he retired from politics. He came back into the limelight in 2011 when he contested the four-way presidential election but lost narrowly to PAP-backed Tony Tan Keng Yam.