the warning light is flashing because it thinks there is something wrong. That could be anything from a loose connection (they mostly clip in, so that's unlikely) to the safety restraint module or a trigger. It's hard for these systems to distinguish between accelerations caused by crashes from accelerations caused by potholes.

Get it checked out.

SRS stands for Safety Restraint System which is both Air Bags and Seat Belts.

Every time you start your car, it goes into a self diagnostics for a few seconds, all indicator lights will turn on, then all will turn off when it passes diagnostics. If light remains such as SRS, then there is a fault.

It may not deploy when needed, or it may deploy at random, seatbelt sensor may be faulty. On new cars, there is also a sensor at the passenger front seat, if a child is in the front passenger and does not meet weight requirement, the SRS light will turn on.

Airbags work simultaneously with seatbelts.

This is more than likely the seat belts. That and the airbags are all part of the same system. You won't know for sure what it is until the dealer scans the computer. If it is the seat belt, the airbag will still work.

secondary restraint system, the air bag has a fault to it. that thing may go off with out warning. it all depends on the code.

You can use car code scanners to scan your car, it can scan the SRS problem and find out what's wrong.

My Proton Preve CFE spec is about 1 year and 4 months old. Everything goes fine until today the SRS and Pre-tensioner Belts warning light flashing at times. The owner's manual suggested that it would be the system. I'm afraid that it happened because after series of hitting potholes uneven road surfaces because living in Malaysia especially Kuala Lumpur and Petaling Jaya, the road was infested with poorly surfaced roads. So, before going to the service centre to rectify the problem, I would like someone's opinion about this. Thank you. By the way, the airbag won't deploy right?