In a small bowl, combine ½ cup of warm milk at 110°F (43°C) with 2 tablespoons of sugar and 2 ¼ teaspoons of instant yeast. Stir gently and let sit for about 5 minutes until frothy.

In a large mixing bowl, whisk together 3 cups of all-purpose flour and ½ teaspoon of salt. Pour in the yeast mixture, ⅓ cup of sweetened condensed milk, 1 large egg, and 2 tablespoons of softened butter. Stir until a dough forms and knead for about 8-10 minutes.

Shape the dough into a ball and place it in a greased bowl, turning it to coat. Cover and let it rise in a warm spot for 30-45 minutes.

Once risen, punch the dough down gently, divide into portions, and shape into smooth balls or loaves. Let them rest for 15-20 minutes.

Preheat oven to 350°F (175°C). Place the dough in a greased loaf pan. Optionally, brush the top with an egg wash. Bake for 25-30 minutes until golden brown.

Remove from oven and allow to cool in the pan for about 10 minutes. Transfer to a wire rack to cool completely.