Price might change by the time you are ready to purchase the items so the price that I am going to list down is based on today's rate taken from the seller.

Intel Core i7 6700K - RM 1461
Asus Z170 Pro Gaming - RM 699
Kingston HyperX Savage 16GB (8GB x 2) DDR4 3000MHz RAM - RM 423
Palit GTX1070 8GB GDDR5 Jetstream - RM 1999
Kingston SSDNow UV400 240GB SSD - RM 255
Superflower Leadex Gold 550W - RM 409

Total: RM 5246 (ETech price inclusive of GST)

OC build isn't cheap to build and the performance/price ratio is bad when it comes to gaming, most of the games  do not show any significant performance bump in terms of FPS.

I don't include a cooler yet, but you need to grab a cheap stock cooler (around RM 50) because Skylake K CPU doesn't come with stock cooler.

You can save at least 1k by going for non-OC build (more budget friendly).

If I were to go for OC build, I won't take 6600K considering DX12 and Vulkan have started to become mature now in games (slowly) and should become the major API for all the upcoming games in next 3 years, this is where the 6700K starts to shine thanks to its multicore. DX12 and Vulkan aim to take advantage of the multicore of the CPU and reduce the CPU overhead for better graphics output performance.

It is just like you have 4 legs (i5) vs 8 legs (i7), no matter how much steroid (OC) you put in 4 legs, it is still very hard to beat the 8 legs, either in speed or efficiency, but then if you cannot fork out extra for the 8 legs (i7), stick with 4 legs (i5), it will work too, regardless of K or non-K, K gives you extra ability to OC it when needed (after several years when Skylake CPU starts to show some bottleneck symptoms like 1st and 2nd gen Intel CPU now).

RAM can be downgraded to normal one but Skylake does show performance improvements when pairing with high speed RAM, this is normally not the case during DDR3 era, but DDR4, they are 

Intel Core i7 6700 - RM 1311
Gigabyte H170-HD3 (D4) - RM 446
Kingston 16GB (8GB x 2) DDR4 2133MHz Value RAM - RM 290
Palit GTX1070 8GB GDDR5 Jetstream - RM 1999
Kingston SSDNow UV400 240GB SSD - RM 255
Superflower Leadex Gold 550W - RM 409

Total: RM 4710 (ETech price inclusive of GST)
Stock reached Malaysia last week, if it hasn't sold out yet then you can get it on the spot.

Please consult Techview for stock availability.