The export led growth of industry has been particularly noticeable with advent of liberalized economic policies of government that were effected in the year 1978. At about this time, many new companies were established, that strove to move away from the business activity that Sri Lanka had traditionally been associated. From the time of British domination of the island, the export economy was largely agricultural, with tea cultivation and export in a preeminent position.

Rubber and coconut. products followed. In the decade of the 1980 's there was a rapid industrialization that was effected , a consequence of which was a harnessing of an educated and highly trainable , rapidly expanding workforce . An emphasis in modernity was to be seen in .Sri Lanka with a greater demand for consumer goods and a change in lifestyle among a larger population that had access to financial resources. It is in this context that the BAM Holdings Limited had its beginnings.

The first trading activity was built around the importation into Sri Lanka of vehicles and other equipment. The manufacture of ready - made garments for export was one. industry that saw a meteoric rise in this same decade . The government actively supported this growth industry, with opportunities for overseas investment under. the arrangement of a Board of Investment.

The BAM Holdings Limited launched their first apparel factory - Colombo Garments Ltd . in 1980 . This facility was expanded in 1982 , with the incorporation of Miami Exports (Pvt) Ltd.

In this time, the company has earned an excellent reputation for reliability . This is reflected in the quality of the work effected, and in the timeliness of the deliveries to our clients overseas . In addition to Garments , the BAM Holdings Limited has acquired other business skills with a. methodical and modern. approach to Management and Training . The company is still under the guidance of its founding father of the Group Chairman Mr. B.A. Mahipala.

In 1985 , the company embarked upon the manufacture of Printed Plastic Film with the formation of Thermo Plastics
(Pvt) Ltd. In 1988, natural rubber latex came into the portfolio of the Group 's business interests with major investment in a glove manufacturing factory, which was exporting their product. The names of the companies in this area of interest are Hanwella Rubber Products Ltd., Lanka Gloves (Pvt) Ltd. and Quality Latex Products.

Another indigenous natural resource that has proved to be a perennial export product, namely gems, was the foundation for the setting up of factories in Sri Lanka for the cutting and polishing of rough. diamonds for re-export . The government of Sri Lanka actively supported this industry and the BAM Holdings Limited were quick to get on board. It was in 1990 that Benlanka Diamonds (Pvt) Ltd. was set up as well as Quality Diamonds & Jewellery Pvt. Ltd.