Hayleys Fabric acquired South Asia Textiles Ltd for LKR3.9 billion from Ambeon Holdings in 2021.

As a result, the company made a loss for the 2010/11 financial year for the first time in its history.

The CID cited Weerasinghe as the main suspect in fraud amounting to LKR350 million.

[9] Hayleys Fabric acquired South Asia Textiles Ltd in April 2021 for LKR3.9 billion from Ambeon Holdings.

Hayleys Fabric's processing capacity increased to 57 tonnes per day, surpassing its closest competitors, Teejay Lanka's and its subsidiary Ocean Lanka's processing capacity of 40 tonnes per day.

[11] Hayleys Fabric invested LKR6.3 million to preserve Diyathuru Park, a wetland located adjacent to its plant in Narthupana in Kalutara District.