While on the train the other morning a gent 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.

The Commuter.

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