These are seen at DMG-Mori Seiki Technology Centre opening at Shah Alam.
Heat is generated at the contact point when a metal is cut using computer numerical control (CNC) machine. When this heat is not dissipated properly it can damage both the material and the machine tool. To meet the need for cooling and lubrication, cutting fluid is used.
They are also known as machining coolants. Depending on application, types of coolants available are: water-based, mineral oils, synthetic coolant, semi-synthetic coolant, motor oils, kerosene and WD-40/3-in-one-oil.
Reminds me a lot of chemistry :)
Cutting fluid Wikipedia entry
[Tutorial] Cutting Fluid in Machining