Yes, exact.
It is not about trade-in or something, it is just a common promotion technique to lower the price without destroy the market price (or SRP/RRP etc.). How could they make use of whatever you trade-in? (unless they are going to sell 2nd-hand stuff, which is probably not).
I hope Emjay is reading this, they are doing something wrong. Remember at the beginning of their taking over, the prices are very competitive. why? I think probably they compare the price they can get from pentax, and the price they can sell, find that they can still have a good profit. But later this is proven to be not working, simply because the market is so small here...(consider their setup cost/inventory cost/service center cost etc.)
I think the more sensible way for Emjay is to distribute the goods directly, rather than through OP/SP or whateverP. Since most of the singapore pentax users are here in this forum actually, they should try to make good use of this. (for example, by investigating our buying will here and conduct some batch pre-orders, which will hugely reduce the inventory cost). Giving commissions to someP won't help the selling much (remember the other thread about someP's saleman is convincing him to buy A550 rather than k-x?), because the street random customers will just go to Canon or Nikon even Sony by whatever reason. Instead, converting the commission to a better price directly to customer is the key for a such a small market. Since they get the product directly from pentax, i am sure it can be sold cheaper than all other parallel or gray imported sets, which have go through many additional selling nodes, especially with inventory cost/lag. (that is why the amazon USA can sell the k-x dual kits at around US$650 -- i.e. shipping in 1 or 2 months)