Ann: Half Yearly Report and Accounts, page-2

Can someone explain what this writeoff of $16m is about? Thats a big chunk

Intangible assets impairment
A review of indicators of impairment relating to goodwill, software IP and customer contracts and relationships was
conducted as at 31 December 2022 with management performing a detailed impairment assessment. Based on the
results of the assessment, the carrying value of the EX Platform CGU exceeded their recoverable amount by
$16,000,000. The impairment was allocated to goodwill.