Bro here is right. the economic downturn does not affect the majoirty of buyers of sports Rolex.
As for the local grey dealers here (basically only 3 stores) having insufficient stock to sell, it boils down to difficulty to travel to get new stock now so that kinda keeps prices up. Once travel is permitted, buyers can venture over to KL to get a wider range of choice.
Looking at FB groups of watch sellers, prices do seem to get softening.