My apology in advance, no intention to get into pricing argument.
I don't think the Pentax prices here is competitive at all, having just came back from my Japan holiday I realized that after the recent prices increased by Emjay the Pentax prices here is far from competitive.
Japanese Yen is at the one of the highest now since the finance crisis at S$1.6 to 100yen versus a year ago at S$1.24 to 100yen. I still own my Canon gears and the price is now atleast 10-20% more expensive in Japan than here and all others small accessories as well. However, the Pentax gear appear to be cheaper in Japan than here, strange huh, I bought a copy of DA 50-200mm WR lens for S$377 after tax rebate (S$395 w/tax). I was quoted here by OP and Alan that the price has gone up and is going for S$5XX, CP S$6XX, for crying out loud Japan is so much cheaper than here, it is rather disturbing (hardly consider pinching pennies).
18-55mm WR is selling about S$350 here, and if you check BH Photo it is going for US$169 i.e. about S$245.
I agreed when Emjay first took over the dealership the prices were very competitive but not anymore after the recently round of price increase by them
I fully agreed we should support the local distributor but it has to be equitable.