Warren Buffett has famously said that “I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.” This reflects his investment philosophy, emphasizing the importance of simplicity and avoiding challenging situations.

I think Alam is a 7-foot bar. Alam share price has been declining from its 2014 high. You should not be surprised since the last time its ROE was positive was in 2015. If you were hunting for Bursa energy services companies, there are companies with better fundamentals such as Dayang and Deleum. https://www.i4value.asia/2023/11/is-dayang-one-of-better-bursa-stocks.html#more
Of course, you still have to consider the margin of safety when looking at them