WASHINGTON: The Obama administration's main housing rescue program showed further signs of stabilization in December as those receiving permanent mortgage modifications during the month outnumbered those dropped from the program.

KUALA LUMPUR: Tower Real Estate Investment Trust (Tower REIT) has posted a net profit of RM8.5 million for its fourth quarter (4Q) ended Dec 31, 2010, down 33% from RM12.7 million a year ago.

The fall was despite an 11% increase in revenue to RM13.1 million from RM11.8 million a year ago, it announced to Bursa Malaysia on Monday, Jan 31.

KUALA LUMPUR: As for Kuala Lumpur Mayor Datuk Seri Ahmad Fuad Ismail, the timeline has been set for Kuala Lumpur to emerge as a world class city nine years from now.

The city's administrators are working to improve Kuala Lumpur's ranking from 79 to 20th by 2020 to be within the list of world class cities.

KUALA LUMPUR: Tiger Synergy Bhd (TSB)'s wholly-owned MyHarmony Development Sdn Bhd (MDSB) has entered into a sale-and-purchase agreement to acquire two pieces of freehold agricultural land for RM4.135 million.

IPOH: Contractors who do not have the Sirim and ISO certifications will not be considered for contracts to build playgrounds here, Ipoh Mayor Datuk Bandar Datuk Roshidi Hashim said.

He said the measure was taken to ensure safety of playgrounds.

KUALA LUMPUR: A former tourism minister has proposed that the government formulate a masterplan to preserve the ecosystem at several areas in Sabah.

Tan Sri Abdul Kadir Sheikh Fadzir noted that the areas showed potential for development as tourist destinations.

KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB), via the Ahmad Zaki Sdn Bhd-Jasa Bakti Sdn Bhd joint venture (JV), has secured a RM125 million job to built 1,002 units of flats in three 17-storey blocks including related works in Terengganu for the Public Housing Programme (PPP-For Rental) from the Ministry of Housing and Local Government.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has proposed to acquire a 33-storey corporate tower with common facilities and 460 parking bays which will be used to house its operations around Petaling Jaya and Bangsar for RM232 million.

KUALA LUMPUR: Selangor Dredging Bhd (SDB) has acquired SDB UK Pte Ltd for S$1 (RM2.450) cash, it announced to Bursa Malaysia on Monday, Jan 31.

SDB UK's main activities are property investment and development.

KUALA LUMPUR: The MMC Corporation Bhd-Gamuda Bhd 50:50 joint venture (JV) has been appointed as a project delivery partner (PDP) for the implementation of the Klang Valley mass rapid transit (MRT) project by Syarikat Prasarana Negara Bhd (SPNB).

The JV had received a letter of award by SPNB on Jan 28, Gamuda announced to Bursa Malaysia on Monday, Jan 31.