Perak Menteri Besar Zambry Abdul Kadir has been urged to halt the sale of Perak Corporation Berhad’s (PCB) shares in Integrax Sdn Bhd to Tenaga Nasional Berhad (TNB).

DAP Pasir Pinji representative Howard Lee said if the sale were to go through, the state would be selling its golden goose.

“The state relies on PCB’s share in Integrax to exercise its check on the development of Lumut Maritime Terminal (LMT) and Lekir Bulk Terminal (LBT), what many consider as the golden goose that lays golden eggs.

“The menteri besar must step in at this crucial juncture. The boardroom antics to push this sale forward need to be halted immediately,” he said in a statement today.

He said failure to halt this deal, “will be a clear indication of the menteri besar and the state government losing control of government-linked companies (GLCs).”

TNB had in January launched a conditional take over of Integrax for RM2.75 per share.

They later raised the offer to RM3.25 per share, prompting PCB chief executive and Integrax director Aminuddin Md Desa to recommend that shareholders accept the deal.

The deal’s independent adviser, M&A Securities Sdn Bhd, however has valued each share at RM3.60.

Besides halting the sale of PCB’s shares in Integrax, Lee also wants the state government to stick to its 2013 pledge to set up a Perak Port Authority.