While on the train the other morning a gentleman in front of me was openly reading a document, presumably prepared by KAZ’s accountants, outlining some proposed write-downs. The main write-down was for $9 million relating to KAZ’s contract with the Commonwealth Attorney-General for a case management system, which thus seems to have been a major disaster for KAZ.
I don’t know whether this is yet in the public domain. The total write-downs were in the order of $19 million.
Meanwhile, another convert to our new anonymous tips box writes:
KAZ Group CEO Mike Foster must be the only guy who thinks that the NAB relationship is rosy. I was at a IT event two weeks ago, and was chatting to a couple of NAB IT types about their plans.
“We’re going to bring everything back in house and Telstra just aren’t doing the job,” was the reply.