Best if you can share the GIA cert number for us to see the proportions. 

If I don't consider the cut precision and just the standard 4Cs alone, the price is actually not bad if I compare against Brian Gavin Diamonds, WhiteFlash, High Performance Diamonds, or James Allen.

However, after I take into account the cut precision: That diamond has a score of 88.4 on Enchanted Cut Score (only works for GIA cert) and a score of 2.7 on HCA (works for any round brilliant diamond). Also, this diamond has a strong blue fluorescence, which usually won't bring too much problem, but it still makes the value even lower. So ultimately, the price seems to be okay, but that is only because of VVS1 clarity, which does not bring much value in terms of light performance.

This diamond will probably leak light as well because it is too deep at 63.2%. It may or may not be a Hearts & Arrows diamond, but you can check this with the salesperson because they should be able to let you see the top of the diamond for the Arrows and the bottom of the diamond for the Hearts.

If I am not wrong, you seem to be aiming at carat size. Therefore, I have filtered out a few of them here. All the diamonds listed below are below RM 40k including GST, but excluding ring setting.

WhiteFlash ACA 1.407ct K SI1 - USD 6561 (Note: This diamond has great light return based on IdealScope. My only concern is the inclusion around the table area. Although it should be eye-clean, but eye-clean's definition is like a few inches away. So, if you view the diamond right in front of your eyes, maybe you can somehow see the inclusion. I can check with the Bryan from WhiteFlash and see what is his view on this matter. Nonetheless, from standard viewing angle and distance, it is a great looking diamond.)
https://www.whiteflash.com/loose-diamonds/r...id=myengringexp (affiliate link)
Update: Bryan just replied me like below:
WhiteFlash ACA 1.406ct K VS2 - USD 7678 (Note: This diamond's light return loses to the other WhiteFlash diamond based on IdealScope. My only concern is the inclusion at the corner of the diamond. There is a chance that you may see the tiny crystal if you put the diamond right in front of your eyes. But from standard viewing angle and distance, it will be eye-clean.)
https://www.whiteflash.com/loose-diamonds/r...id=myengringexp (affiliate link)

Brian Gavin Blue 1.525 K VS2 - USD 7981 (Note: This diamond has Medium Blue fluorescence, hence it is called Brian Gavin Blue. I don't seem to find the Hearts & Arrows image, but maybe I can try to ask if you are interested. This diamond's light  return also loses to the 1.407 K SI1 diamond by WhiteFlash if based on IdealScope, but probably wins the 1.406ct K  VS2 diamond a little.)
http://www.briangavindiamonds.com/diamonds...?a_aid=myengexp (affiliate link)

There are also a couple of diamonds from James Allen, if you are in Singapore or someone can help you get from Singapore. For example this one: https://www.jamesallen.com/loose-diamonds/r...cut-sku-2291624 - USD 7670. However, the IdealScope is not as great as the 3 diamonds above.  The cut precision may lose slightly as well as I can see some very slight obstruction based on IdealScope but that shouldn't be too much of a concern I believe. This diamond wins in terms of clarity and carat size.

There is no diamond I can recommend from High Performance Diamonds based on the budget, therefore I will skip that company.

Let me know if you need further assistance.

Thanks!