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    Nirgunan Tiruchelvam

    Research Analyst at Aletheia Capital

    Nirgunan Tiruchelvam is Head of Consumer and Internet at Aletheia Capital, specializing in equity research across the consumer and technology sectors with deep expertise in internet-focused companies. He covers specific names including Grab Holdings and GoTo Gojek Tokopedia, with a reputation for prescient investment calls such as Grab's expected acquisition of GoTo, as well as broad coverage extending to leading firms in technology and consumer spaces. Tiruchelvam began his analyst career at Standard Chartered, subsequently holding senior research roles at ABN Amro, RBS, and serving as Head of Consumer and Tech Sector Research at Tellimer before joining Aletheia Capital. He is recognized for sector leadership and analytical rigor, although publicly accessible sources do not confirm FINRA registration or securities licenses.

    Nirgunan Tiruchelvam's questions to MoneyHero (MNY) leadership

    Nirgunan Tiruchelvam's questions to MoneyHero (MNY) leadership • Q3 2024

    Question

    The analyst inquired about the company's breakeven revenue level, the large foreign exchange impact on net income, the history of such large Other Comprehensive Income (OCI) movements, and where to see the impact of recent labor cost reductions in the financial statements.

    Answer

    Executives clarified that EBITDA is not yet positive, but losses have narrowed due to a focus on higher-margin products rather than a specific revenue target. The positive net income was primarily driven by a large unrealized FX gain on intercompany payables. The full financial impact of the recent restructuring and labor cost reductions will be more clearly visible in the next quarter's (Q4) results.

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