add the boiling water, the rice and the cinnamon stick into a pot and cook (simmer) the rice
once the rice absorbed all the water (about 20min) add the condensed milk, evaporated milk, piloncillo (optional), the raisins and the walnuts and cook (simmer) it for another 5min (or until the piloncillo is dissolved
remove the cinnamon stick and serve hot or cold
Video
Notes
when you serve it you can sprinkle some cinnamon powder on top to add additional taste and decoration.