Indonesia's Tiga Pilar unit denies false rice labelling allegations

A unit of Indonesian food manufacturer Tiga Pilar Sejahtera Food denied allegations of rice stock hoarding, incorrect labelling and unfair business practices on Tuesday, after a police probe caused the company's share prices to tumble last week.

"We did not use subsidised rice as our raw material," Tiga Pilar unit PT Indo Beras Unggul spokesman Jo Tjong Seng said during a company press conference.

"The result of the analysis by the (food) task force team was (that our labelling is) still in accordance with what was in the packages," he added, referring to the police investigation.