SBS Transit’s wholly-owned subsidiary, SBS Transit Rail (SBST Rail) has increased its issued and paid-up share capital to $100 million from $5 million.

This is done by allotting and issuing 95 million new ordinary shares to SBS Transit for consideration of conversion and discharge of $95 million receivable, owing by SBST Rail to the parent company at $1 per share. 

Payable in full upon allotment, the new ordinary shares shall rank pari passu in all respects with the existing issued shares of SBST Rail, the company said in a filing. 

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