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When Indonesia announced plans to devolve power to its regions two years ago, the new province of Bangka-Belitung looked as though it would become rich. Not only was the small group of islands just off the coast of Sumatra one of the world's biggest pepper producers, it was also home to the world's largest tin mining company, PT Timah, one of Indonesia's privatization success stories of the 1990s. Profitable and well managed, Timah sailed through the Asian financial crisis in 1997. Then local leaders passed a regulation allowing the export of tin concentrate, previously banned. Almost overnight more than 6,000 illegal miners arrived at the minesite and started digging. Brokers carried off the ore, local security failed to act and soon the world tin market was reeling under excess supply as the miners extracted 18,000 tonnes in six months, almost half of Timah's annual production.

Most people were glad to see the back of 2001, but there were highlights amid the gloom. In issuance terms it was the reverse of 2000: plenty of impressive bond issuance but a dearth of new equity. Our deals of the year for 2001 were those that battled volatile market conditions and still produced successful, innovative transactions. By Chris Wright and Fiona Haddock.

The recent death of Harshad Mehta (aged 47), the key figure in the 1992 US$1.3 billion securities scam in India, has been described as the end of an era. But like all colourful characters he has left a colourful legacy: an unsolved mystery of 2.7 million missing shares in Indian companies and 72 cases of conspiracy, forgery, cheating and misappropriation of funds. Despite his passing away, the country's most flamboyant investor retains the dubious accolade of heading the list of the country's bank defaulters with a figure of Rs8.1 billion (around US$168 million) – a position he had occupied for almost a decade. Being hailed as a financial wizard and trusted by hundreds of players in financial markets was quite an achievement for a man who barely scraped through his Bachelor of Commerce with just 36%. Nonetheless, he became the country's investor guru (especially among the wealthy Gujarati community), flaunting a flashy lifestyle that included a penchant for expensive cars, the indiscriminate offering of investment advice, and hobnobbing with the rich and powerful.

Executive Access takes the number one spot once again in the Asiamoney headhunters poll, but in the individual stakes Eban's Stephen McAlinden steals this year's crown. Our respondents give their candid opinions on the best, and the worst, recruitment specialists in the business. By Matthew Montagu-Pollock.

Just as Singapore dominates our deals of the year, our issuer of the year category came down to a choice between two Singaporean and one Hong Kong company. SingTel takes the title from DBS and Hutch not for the range of its activity but for its transformation from a name suffering from its government connections, to the region's benchmark borrower. By Chris Wright.

Have a guess at the top bookrunner on Asian bonds last year. Goldman Sachs? Morgan Stanley? JPMorgan? No – the leader by volume was LG Investment. The growth of the local debt capital markets has pushed domestic houses up the rankings – and in an economic downturn that's not going to change. By Joy Lee.

The international financial community is still digesting news of the discredit of China's most prominent banker, Wang Xuebing. Asiamoney spoke with him in November, in what we believe was his last interview with the western media before his fall from grace.

Executive Access takes the number one spot once again in the Asiamoney headhunters poll, but in the individual stakes Eban's Stephen McAlinden steals this year's crown. Our respondents give their candid opinions on the best, and the worst, recruitment specialists in the business.

It's easy to transcribe an interview with Allan Moss. The CEO of Macquarie Bank speaks with such considered deliberation, the words come out at a slow typing pace. Moss doesn't say "doesn't" or "wouldn't": the abbreviation would be too pacey, too spontaneous. Instead the sentences come out grammatically perfect, rhythmically balanced, in full. In fact Moss doesn't seem a lot like a CEO. Friendly and slightly awkward, he shows none of the hyperactivity one often finds in senior management at investment banks. But he has clearly been doing something right during his eight years as CEO, because Macquarie is a remarkable success story.

TRI, owner of cellular telcom operator Celcom, is on the road with lead manager and bookrunner Crédit Lyonnais Securities Asia (CLSA), seeking the equivalent of up to $368m as part of the company's restructuring and recapitalisation package. The result of the placement should be known at the end of next week. Even if funds around the world agree to take the placement, their commitment is contingent on the completion of a new debt package in Malaysian ringgits and on signing of an underwriting agreement for a one-for-one rights issue.

In a surprise move, CapitaLand has appointed Goldman Sachs as financial adviser for the planned relaunch of its SingMall Property Trust (SingMall) flotation. When the deal was first attempted in November, UBS Warburg, along with DBS, held the prestigious mandate, which involved the creation of the first public real estate investment trust (REIT) in Singapore. The appointment has shocked the market. Goldman Sachs was reprimanded by the Singapore authorities last year for its role as adviser to DBS. Also, the US bank has only a small presence in the Australian property trust market, which is the nearest to Singapore geographically, whereas UBS is widely considered the most experienced arranger and executor of property trust floats and fund raisings in Australia. Nikko Salomon Smith Barney and Nomura managed the two first REIT deals out of Japan.

* Following the fall of Global Crossing, Hutchison Whampoa and Singapore Technologies have signed a letter of intent to buy a controlling stake in the US fibre optic company for $750m. Hutchison and Singapore Technologies have submitted a restructuring plan to the US bankruptcy court under which they will recapitalise the company, scale down its $12bn in debt and prepare it for a revitalisation in broadband demand. The debt restructuring with the company's creditors is expected to last for several months.