In a large pot over medium high heat, add in rice, water, salt, cinnamon sticks, star anise, and cloves. Bring to a gentle boil. Cook for 20 minutes, stirring often.
Next, lower the heat to medium low, add in whole milk and evaporated milk. Stir and cover for 15 minutes, or until rice has cooked through.
Once rice is cooked, add in condensed milk and stir. Taste for salt and sweetness. If you desire more sweetness, add in sugar by a tablespoon until desired sweetness level.
Serve and garnish with ground cinnamon.
Notes
Can be refrigerated, covered, for up to a week. Can be eaten warm or cold.