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Junee Limited Announces Financing Round of Up to US$40 Million to Establish AI (Artificial Intelligence) Supercomputing Center in Australia

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SINGAPORE, Oct. 29, 2024 /PRNewswire/ — Junee Limited (NASDAQ: JUNE) (the “Company”), today announced its strategic focus on developing and operating artificial intelligence (AI) computing centers. To support this initiative, the Company plans to raise up to US$40 million through a financing round, with the funds earmarked for the establishment of an AI supercomputing center in Australia and to bolster its working capital.

The planned financing of up to US$40 million will be used primarily for two key purposes:

1.  Establishment of an AI supercomputing center in Australia: The funds will support the construction and operation of a state-of-the-art AI supercomputing center, which is expected to consist of 511 AI servers equipped with up to 4,088 NVIDIA H200 or higher level GPUs. The total investment in this project could reach up to US$200 million, with the project being implemented in phases.

2.  Working Capital: A portion of the funds will be allocated to enhance the company’s working capital, providing financial flexibility and support for ongoing operations.

“We are excited to embark on this new chapter, where we will leverage our expertise and resources to build a robust AI computing infrastructure,” said Yu Chun Kit, Director of Junee Limited. “The planned financing will provide us with the necessary capital to establish a world-class AI supercomputing center in Australia and support our broader business objectives. We are confident that this strategic focus will drive significant growth and value for our stakeholders.”

Junee Limited is committed to becoming a leading player in the AI computing sector, driven by the increasing demand for advanced computing capabilities. To accelerate its entry into the AI computing market, Junee Limited has entered into a non-binding memorandum of understanding with PanaAI Technology Pty Ltd (“PanaAI”), an NVIDIA Cloud Partner based in Australia on August 27, 2024. By investing in cutting-edge technology and forming strategic partnerships, the company expects to capture a significant share of the market and contribute to the advancement of AI technology.

Historical Events: 

On August 27, 2024, the Company announced that it entered into a non-binding memorandum of understanding with PanaAI. PanaAI is an AI computing services and operations company that is a NVIDIA Cloud Partner in Australia and member of the NVIDIA Ecosystem in Australia. Both parties agreed to collaborate on the development of AI products and explore the construction of AI supercomputing centers in Australia, potentially involving up to US$200 million in investment, including 511 AI servers with up to 4,088 NVIDIA H200 or higher level GPUs.

On September 18, 2024, the Company announced that its wholly-owned subsidiary, ASPAC AI Computing Pty Ltd (“ASPAC”) entered into a service contract with PanaAI for the design, integration, and deployment of an artificial intelligence superfactory (AISF).

On October 15, 2024, the Company announced that ASPAC entered into a customer purchase agreement with PanaAI for the procurement of hardware and software services from PanaAI. Pursuant to the customer purchase agreement, PanaAI will provide ASPAC with data center infrastructure, NVIDIA Networking products, NVIDIA H200 GPU servers, and professional services. As consideration for the services, ASPAC shall pay PanaAI in installments totaling approximately US$100 million. The customer purchase agreement and services are part of the Company’s non-binding memorandum of understanding with PanaAI for up to US$200 million of investment announced on August 27, 2024.

About Junee Limited:

Junee Limited (NASDAQ: JUNE) with its wholly owned subsidiary ASPAC AI Computing Pty Ltd (“ASPAC”), is an innovative technology company specializing in supercomputing infrastructure, and dedicated to advancing artificial intelligence and high-performance computing (HPC). As the global demand for GPU-accelerated cloud computing and large-scale computational resources surges, the Company stands at the forefront of continuously driving technological innovation and invest in infrastructure to provide robust computing power to industry users, startups, government agencies, and research institutions.

Its mission is to become a leading provider of high-performance AI computing solutions. The Company is currently undergoing construction of a supercomputer facility in the Southern Hemisphere, which is designed to empower rapid advancements in cutting-edge technologies such as Large Language Models (LLMs), Vision-Language Models (VLMs), autonomous driving, robotics, bio-genomics, climate science, environmental studies, disaster management, and energy development.

Through its advanced computing resources, the Company aims to help industries meet the technological challenges of the future, driving global innovation and collaboration.

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements due to various factors. Investors are advised to refer to the documents filed by Junee Limited with the Securities and Exchange Commission, including the most recent Form 20-F, for a discussion of these risks and uncertainties.

View original content:https://www.prnewswire.com/apac/news-releases/junee-limited-announces-financing-round-of-up-to-us40-million-to-establish-ai-artificial-intelligence-supercomputing-center-in-australia-302290105.html

SOURCE Junee Limited

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IMTEX, Tooltech & Digital Manufacturing 2025: An exhibition of India’s manufacturing prowess

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Indian Machine Tool Manufacturers’ Association (IMTMA) to Organise the 22nd Edition of IMTEX

Over 1,100 Exhibitors from 23 Countries Set to Showcase Cutting-Edge Manufacturing Technologies Across 90,000 Square Metres

BENGALURU, India, Dec. 26, 2024 /PRNewswire/ — India’s manufacturing ecosystem is undergoing rapid changes with the onset of new and emerging technologies to meet domestic and global needs. A technology enthusiast’s quench gets satisfied when he sees and experiences an innovative and revolutionary technology. IMTEX is where every technology enthusiast will have something to see, experience, and carry. 

Being a part of IMTEX is an amazing experience, as the exhibition creates a welcoming atmosphere for its visitors, showcasing the machine tool industry in a grand light. Every business visitor who attends IMTEX considers it a privilege to do business, and importantly, it is one of those top-notch exhibitions that showcases a new and confident India.

Organized by Indian Machine Tool Manufacturers’ Association (IMTMA), IMTEX, Tooltech & Digital Manufacturing 2025 will be held at Bangalore International Exhibition Centre (BIEC) in Bengaluru, Karnataka, from 23 to 29 January 2025.

IMTEX 2025 is very special as it is set to surpass all its previous editions, occupying 90,000 square meters of space in eight halls. Over 1,100 exhibitors from 23 countries showcasing new products and technologies in the form of live machines are expected to participate. Countries like Germany, Italy, Japan, Korea, Spain, Taiwan, and the United States of America have separate pavilions. IMTMA anticipates participation from around 2,000 trade delegations representing various user industries.

Tooltech, focusing on tools and dies, and Digital Manufacturing, showcasing Industry 4.0 and additive manufacturing advancements, will be held as concurrent shows. International Seminar on Machining Technologies, to be held on 24 and 25 January, will throw light on the emerging technologies in metal cutting technologies. International experts from various countries will deliberate upon the innovations and global best practices. 

The exhibition will have interesting parallel events, such as i2 Academia Square comprising Academia Pavilion with institutions presenting innovative projects undertaken by students, helping bridge the gap between academic and industrial circles. Manufacturing Technology Quiz Contest along with TechTalk will be added attractions.  

IMTMA will be holding the ‘Engagement with Overseas Buyers’ on 25 and 26 January, as part of the buyer-seller meet promoting exports of the Indian machine tool industry. Further, the Jagruti-IMTMA Youth Programme, an initiative to raise awareness about the latest advancements in the manufacturing industry, would help students stay updated with technological developments.

Two new seminars will be organized in IMTEX 2025 for the first time.

IMTMA, along with ACMA (Automotive Component Manufacturers Association of India), will be holding an Auto Components Industry Transformation Summit on 26 January. The seminar is expected to further buttress machine tool and auto component industry relations.

JMTBA Seminar on Export Controls for Japanese Machine Tools will be held at IMTMA Technology Centre in Bengaluru on 27 January 2025. The seminar will help strengthen business relations between India and Japan.

Engineering at its best

The kind of innovation that exists in industry at every level, small, medium, or large, finds its place in IMTEX. The exhibition has consistently showcased advancements in technologies, from traditional machines to cutting-edge CNC and digital manufacturing solutions, giving a first-hand view of the capabilities and potentials of technologies that are on display.

This results in facilitating technology transfer and collaborations and encourages foreign investments, driving innovation and development in the Indian and Asian machine tool and manufacturing industries.

In this edition, exhibitors are expected to display cutting-edge technologies that are vital in addressing the need for quality and precision manufacturing in every industry sector, according to Mr. Jibak Dasgupta, Director General & CEO, IMTMA. There is renewed enthusiasm among exhibitors and visitors to forge relations, enhance opportunities, and advance manufacturing to new levels, he adds.

For more information about IMTMA, please visit: https://www.imtma.in/

About IMTEX, Tooltech & Digital Manufacturing 2025

IMTEX, Tooltech & Digital Manufacturing 2025, organized by the Indian Machine Tool Manufacturers’ Association (IMTMA), is one of India’s premier exhibitions showcasing the country’s manufacturing prowess. Scheduled from 23–29 January 2025 at the Bangalore International Exhibition Centre (BIEC), Bengaluru, the event will feature over 1,100 exhibitors from 23 countries, across 90,000 square meters in eight halls. The exhibition will highlight cutting-edge technologies in machine tools, automation, and digital manufacturing, alongside concurrent events such as the Tooltech and Digital Manufacturing shows, international seminars, and buyer-seller meet programs. IMTEX serves as a global platform for technology exchange, fostering business collaborations, innovation, and export opportunities within the machine tool and manufacturing sectors.

For more information about IMTEX, please visit: https://www.imtex.in/

 

View original content:https://www.prnewswire.com/in/news-releases/imtex-tooltech–digital-manufacturing-2025-an-exhibition-of-indias-manufacturing-prowess-302339242.html

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World’s Largest Modular Student Residence Opens in Hong Kong CIMC Sets Benchmark for Construction Efficiency and Sustainability

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News Lead: The opening of the world’s largest modular student residence has attracted widespread attention from public. The project was completed two years ahead of schedule, showcasing groundbreaking efficiency and advanced construction technology in educational infrastructure.

SHENZHEN, China, Dec. 26, 2024 /PRNewswire/ — A Benchmark in Global Educational Infrastructure

Recently, the City University of Hong Kong (CityU) held an opening and naming ceremony for the Lee Shau Kee Student Residence Village (hereinafter referred to as “the Residence Village”).

Recognized as the world’s largest modular student residence (calculated by the number of bed spaces), the Residential Village was built in partnership with main contractor Gammon Construction Limited and module supplier CIMC Modular Building Systems (CIMC MBS), a subsidiary of CIMC Group.

The Residential Village was opened in the third quarter of 2024 after commencing the construction work in 2022. Utilizing CIMC volumetric modular construction technology, completion was achieved two years ahead of the original schedule, setting a new benchmark for efficient construction speed and advanced technology in the field of global educational infrastructure.

The Residence Village covers a total construction area of approximately 48,000 square meters, consisting of six buildings ranging from 13 to 18 stories. The overall building complex involves over 1,300 modules and provides more than 2,000 bed-spaces for CityU’s undergraduate and graduate students.

In addition to hostel rooms, there are communal rooms, corridors, rest rooms and plant rooms constructed using the CIMC modular construction technology.

During the construction process, innovative MiMEP (Multi-trade Integrated Mechanical, Electrical and Plumbing) technology was adopted. The pre-assembled MEP cassettes were integrated and installed in the CIMC factory within the modules before being transported to the site for installation. This approach reduced overall installation time by 50%.

Up to 90% of the aluminum cladding system was also prefabricated and installed in the factory, including the projecting horizontal and vertical fins. The aluminum feature fins were designed to conceal all the external pipe works providing an attractive appearance whilst also providing access for future maintenance.

In addition, CIMC Modular utilizes its self-developed digital systems, such as project management cockpit and quality digital monitoring systems, to provide a “smart brain” for project construction. Through these systems, multiple production processes are monitored, achieving full digital management and process traceability for module production, transportation, and installation, thereby providing strong support for quality project delivery.

Modular Construction Technology Is Addressing Hong Kong’s Urban Development Challenges

For a long time, Hong Kong has faced multiple challenges, including restricted land resources, diversified construction demands, and an urgent desire for efficient and environmentally friendly building methods. Traditional construction methods have gradually revealed issues such as long construction periods, significant noise pollution, and excessive construction waste, making it difficult to meet Hong Kong’s rapidly evolving needs. The emergence of volumetric modular construction technology has brought new hope to address these challenges.

Off-site volumetric modular construction technology adopts the concept of ” factory assembly followed by on-site installation,” transfers 90% of on-site construction processes to a controlled factory environment. In this method, free-standing integrated modules (completed with finishes, fixtures, and fittings) are manufactured and assembled in a factory, buildings can be substantially completed off-site.

This significantly reduces construction time and minimizes the impact of weather conditions and site constraints, while also providing a great degree of production quality control, and can improve construction productivity, cost-effectiveness, safety, and sustainability.

In the construction of the Residence Village, this on-site installation method resulted in a 75% reduction in construction noise and a 68% decrease in construction waste. By using low-carbon concrete and rebar as building materials and replacing diesel generators on-site with grid-powered facilities, the project also significantly reduced the carbon footprint generated during its construction period. These figures clearly reflect the substantial environmental benefits of this technology, effectively minimizing its impact on the surrounding environment and residents’ lives and providing a successful example of green construction for global building projects.

It is worth noting that the successful implementation of the Residence Village project is an important milestone in promoting the development of volumetric modular construction technology in Hong Kong, offering valuable experiences for construction projects in Hong Kong and the worldwide, guiding the industry toward a more efficient, environmentally friendly, and intelligent future.

View original content:https://www.prnewswire.com/news-releases/worlds-largest-modular-student-residence-opens-in-hong-kong–cimc-sets-benchmark-for-construction-efficiency-and-sustainability-302339243.html

SOURCE CIMC

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India’s Thriving Tech Hub Fuels Kimberly-Clark’s Digital Transformation

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Kimberly-Clark Expanding Investments in India

BENGALURU, India, Dec. 26, 2024 /PRNewswire/ — Kimberly-Clark, a global leader in essential personal and family care products, continues to increase its commitment to India through its Global Digital Technology Center (GDTC) in Bengaluru.

Established in 2018 with an initial investment of $2.5 million, the Bengaluru GDTC has seen remarkable growth, expanding its size by eight times in just five years. The center focuses on key areas and digital capabilities such as Data and Analytics, Artificial Intelligence (AI) including Generative AI, Machine Learning (ML), Cloud Transformation, Global Digital Operations & Automation, Digital Sales and Marketing, and Digital Supply Chain – all of which help drive efficiencies and improve customer experiences. Over the next three years, the GDTC plans to continue its expansion, focusing on advancing AI/ML capabilities and developing innovative digital solutions to boost operational efficiency and customer engagement. These capabilities further enhance Kimberly-Clark’s ability to deliver on its global Powering Care strategy – shared earlier this year – and, in turn, strengthen its longstanding commitment to consumer-centricity.

While the Bengaluru GDTC is driving Kimberly-Clark’s technological advancements, it’s also contributing to India’s broader tech and innovation ecosystem. By collaborating with local startups, academic institutions, and industry partners, the center aims to foster cutting-edge solutions.

“Our Bengaluru GDTC is a testament to Kimberly-Clark’s deep-rooted commitment to innovation and the immense breadth of Indian talent,” said Zack Hicks, Chief Digital and Technology Officer, Kimberly-Clark. “In just five years, the center has evolved into a key growth engine for our digital strategies, delivering AI-powered commercial and supply chain solutions, and pioneering advancements in modern manufacturing. Looking ahead, we remain focused on further investing in India, leveraging the country’s outstanding talent and technological expertise to shape the future of Kimberly-Clark and pioneer industry-leading innovation in our core categories.”

The integration of data and advanced analytics is at the core of the Bengaluru GDTC’s success. By leveraging AI/ML algorithms built on their enterprise data lake, the team is also optimizing sales predictions, refining pricing strategies for e-commerce, and automating routine tasks such as order entry and invoice processing. In 2024, efforts in Gen AI platforms originating from the GDTC improved the employee productivity by up to 25%, and the development of AI-powered sales and revenue analytics drove a 10% improvement in sales execution across regions like Europe, the Middle East, and Africa. These innovations not only streamline operations and reduce costs but also boost accuracy and efficiency.

One of the center’s major achievements is the development of Maestro, an AI-powered supply chain orchestration platform that has delivered more than $20 million in global savings for Kimberly-Clark. Another transformative innovation is the Warehouse Automation Platform, which seamlessly integrates warehouse robotics with supply chain systems, reducing new solution deployment timelines from 18 months to 4 months, and generating savings exceeding $50 million. The GDTC’s collaborative efforts have also resulted in the creation of Procuree 3.0, an inhouse Source-to-Pay chatbot powered by Generative AI that enhances Kimberly-Clark’s procurement processes across 42 countries and 14 languages.

Recently, the GDTC held its third Digital Hackathon under the theme ‘UNLOKC 2024,’ bringing together Kimberly-Clark employees and technology partners to develop digital solutions that contribute to business opportunities in areas such as supply chain, marketing, and finance. Over 130 innovative ideas were submitted within four weeks, and the 7 project finalists were awarded by the Digital Technology global leadership team during the Hackathon’s final event in Bangalore. These finalists will receive support to develop their projects in the near future.

As Kimberly-Clark’s largest technology hub, the Bengaluru GDTC is positioned to remain a critical driver of growth and innovation on a global scale. With plans to continue attracting top-tier talent and expanding its technological capabilities, the center is set to play a pivotal role in shaping the future of the company and its global tech ecosystem.

About Kimberly-Clark:

Kimberly-Clark (NYSE: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries. Fueled by ingenuity, creativity, and an understanding of people’s most essential needs, we create products that help individuals experience more of what’s important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. We use sustainable practices that support a healthy planet, build strong communities, and ensure our business thrives for decades to come. We are proud to be recognized as one of the World’s Most Ethical Companies(R) by Ethisphere for the sixth year in a row and one of Fortune’s Most Innovative Companies in America in 2024. To keep up with the latest news and to learn more about the company’s 150-year history of innovation, visit the Kimberly-Clark website.

Photo: https://mma.prnewswire.com/media/2587797/Kimberly_Clark.jpg

 

 

View original content:https://www.prnewswire.co.uk/news-releases/indias-thriving-tech-hub-fuels-kimberly-clarks-digital-transformation-302339247.html

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