Rinse the jasmine rice under cold water until the water runs clear.
In a saucepan, combine the rinsed rice, coconut milk, water, sugar, and salt.
Bring to a boil over medium heat, then reduce the heat to low, cover, and simmer for 18-20 minutes, or until the rice is tender and the liquid is absorbed.
Remove from heat and let it sit, covered, for 5 minutes. Fluff with a fork before serving.
Notes:
For extra flavor, you can add a few slices of ginger or a pandan leaf while cooking.