The former officers of the National Kidney Foundation, the NKF, - former Chairman Richard Yong, ex-director Matilda Chua, former Treasurer Loo Say San and ex-chief executive T.T. Durai - acknowledged fault in the suit filed by the foundation's new management, the charity said in a statement.

"The NKF is entrusted with public funds to be used properly for the benefit of dialysis patients. Serious wrongdoings had taken place and damage had been caused to NKF's reputation because of a misuse of its funds," the foundation's Chairman Gerard Ee said in the statement. "The outcome of this action helps vindicate the sense of justice among Singaporeans."

The defendants admitted breaching their duties toward the foundation as board members, delegating excessive powers to Durai, and allowing false information about donations and the number of kidney dialysis patients to be disseminated to the public.

The defendants could not immediately be reached for comment.

Durai resigned in disgrace in July 2005 after court revelations about the charity's spending led to a rare public outcry in a nation that prides itself on good corporate governance. He also admitted overstating the number of kidney dialysis patients in Singapore in an apparent attempt to attract more donations.

It was revealed at the time that Durai earned a S$25,000 (US$15,000; €12,500) monthly salary and that the foundation - long a favorite charity for many Singaporeans - had reserves of S$260 million (US$157 million; €128 million).

The defendants agreed on Thursday to pay damages to the charity, which claimed losses of at least 12 million Singapore dollars (US$7.8 million; €6 million), the foundation said.

A separate hearing will be held to assess the damages.

Calls to the court's press office rang unanswered Thursday.

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