Combine the warm water, instant yeast, and sugar. Stir gently and allow the mixture to bloom for 5 to 10 minutes until foamy.

In a large bowl, combine the all-purpose flour, sugar, nutmeg powder, and salt. Mix well.

Pour in the evaporated milk, egg, and bloomed yeast mixture.

Mix until everything is incorporated.

Add the softened butter and continue mixing by hand until incorporated.

Transfer the dough onto a lightly floured surface.

Knead for 10 to 15 minutes until smooth and elastic. The dough will be sticky at first, but avoid adding excessive flour.

Rub the dough with cooking oil. Place it in a bowl.

Cover with plastic wrap or a clean towel.

Allow it to rise for 1 to 2 hours or until doubled in size.

Punch down the dough.

Divide into approximately 25-gram portions.

Roll each portion into a smooth ball.

Arrange the dough balls on a tray lined with parchment paper.

Cover and allow them to rise again for 30 minutes to 1 hour.

Heat enough cooking oil over low heat.

Carefully fry the donut balls until lightly golden brown.

Flip and continue frying until evenly cooked.

Remove and drain on wire rack.

Allow them to cool completely.

Combine powdered sugar, evaporated milk, and melted butter.

Mix until smooth.

If the glaze is too thick, add a few drops of milk. If too thin, add a little more powdered sugar.

Using kitchen tongs:

Dip half of the donuts into the glaze. Place them on a wire rack to allow excess glaze to drip and set.

Roll the remaining donuts in powdered sugar until fully coated.

Serve and enjoy!