Diamond is based on how rare it is. It will be a mixture of all the 4Cs.

Color S-W? Are you interested in Yellow Diamonds? If you are, then I would suggest you go as further down the colour range as possible, so that it will look more yellow, and thus will make more sense to buy such colour grade. Even at Z colour, I believe it should be relatively cheaper than a D colour diamond though, because after Z colour, there seems to be more and more yellow grades. I just read this: http://www.leibish.com/au/about-fancy-yell...nds-article-347.  The price really depends how yellow it is.

I2 - Why would you want a diamond with the such low clarity/a lot inclusions? Unless the yellow colour reached a very yellowish colour that makes it so rare and so unique, then I won't think this is a good buy. At S-W colour, I don't think is worth it to be honest.

Referring to this:
https://www.jamesallen.com/loose-diamonds/f...ity-sku-2477876
The price is USD 2400. Carat is 1.4ct, inclusion is I1. Already can see the inclusion clearly on the surface. It is only has "Very Good" for cut, polish, and symmetry. Colour is U-V.

https://www.jamesallen.com/loose-diamonds/f...ity-sku-2245157
The price is USD 3090. Same I1 clarity, polish is "Excellent" and symmetry is "Very Good". Smaller size, but more expensive than the 1.4ct? Why? The "polish" is one of the factors that this is more expensive, however, the inclusion for this diamond is also quite visible, so I don't think it will affect the price too much compared to the diamond above. The other factor may be the fluorescence of the diamond above, which is strong vs. faint for this diamond, but then, I don't think this will affect the price so much as well. So, what is the other factor? I believe it should be the colour -> Fancy Light Yellow, as stated in the GIA cert. Cut is no longer stated there, which I don't know why, my guess is because people buy such stone for colour, so they don't really bother about cut that much.

https://www.jamesallen.com/loose-diamonds/f...rity-sku-674346
Now, look at this. A whopping USD 12610. Still the same size and same clarity as the 2nd stone above. Polish and Symmetry is only "Good". But why the huge gap in terms of price? Check out the GIA cert -> Fancy Vivid Yellow. So, based on such scenario, I believe the weight of the price lies on the rarity of the colour.

Of course, if the cut of the diamond is nice, I believe the price for each diamond should be relatively higher as well.
So back to your question. How much does it cost? Using diamond 1 from JamesAllen as base, because that is the closest range to the diamond you ask, the price per carat will be USD 2400/1.4 = 1714.29. So, for your 1.05ct, the price will be USD 1714.29 x 1.05ct = USD 1800. A 14K white gold ring probably will cost you not more than a thousand ringgit. So, let's convert all back to ringgit:

USD 1800 x 4.52 (I put higher because when we buy USD, the price will be slightly more) = RM 8136.
Add ring setting RM 1000 = RM 9136.

Since you one is an I2 diamond, the price should be lower than this. And cut may also affect the price, since your colour is still within the standard colour scale. So it would be best if you could share the cert number. Also, what is the price offered? Lastly, are you sure you are willing to sacrifice on inclusion? 

I have also excluded GST by mistake, but it should be okay because the price should still be lower than RM 9136 stated.