BBC NEWS | Business | Singapore firms turn to bartering

Mr Khoo joined Barterxchange, a network of 600 businesses in Malaysia and Singapore, 18 months ago.

Instead of simplistic one-to-one direct exchange of goods and services, members go online.

Forget cash. They have their own universal currency.

Companies earn credits by offering their services and skills. They can then use them to get what they need from other members. //
The industry is now worth over $8bn annually, according to the International Reciprocal Trade Association.

And its popularity is rising.