Update: Reader yl asked if this was just the MRT one. Hmmm, not sure if this included the unlimited rides on the buses, it has been a while.
Found this in the house yesterday, it fell out of an old book. I must have been using it as a bookmark.
It is a tertiary student concession card from 1991. For $40, you got unlimited rides on buses and a limited number of MRT trips a day, for a whole month. The next month, you chucked this and bought a new one.
Nothing to top up and very affordable. And every month, you get a free bookmark to use.