Rinse the rice until water runs clear (two or three times)
Put the water,rice and cinnamon stick into a a pot and bring to a boil.Once its starts boiling reduce the hear to low, cover and cook for about 15 mins or until the rice is fully cooked.
Add the sweetened condensed and milk whole and continue to cook until the mixture boils.Reduce the heat and continue to cook on medium heat until the mixture thickens and becomes creamy.About 20 mins..
Let it cool for a few mins.At this point you can either serve this warm with a dusting of ground cinnamon or cool it and chill in the fridge.Dust with ground cinnamon just before serving.