In a large bowl, whisk together flour, sugar, and salt until evenly combined.

Sprinkle instant dry yeast over the dry mix and stir gently to distribute.

Pour warm milk, warm water, and sweetened condensed milk into a measuring cup, stirring to combine.

Add wet ingredients and the egg into the dry ingredients, mixing with a wooden spoon until a shaggy dough forms.

Turn the dough onto a lightly floured surface and begin kneading, folding and pressing for about 8–10 minutes until smooth and elastic.

Drizzle melted butter over the dough and continue kneading until it’s fully incorporated and the dough feels soft and slightly tacky.

Place the dough in a lightly greased bowl, cover it with a clean cloth, and let rise in a warm spot until doubled in size, about 1–1.5 hours.

After the first rise, gently deflate the dough and shape it into a tight loaf, tucking edges underneath for tension.

Transfer the shaped dough into a greased loaf pan, cover again, and let it rise until it reaches just above the pan’s rim.

Preheat the oven to 350 °F (180 °C) while the dough completes its second rise.

Bake the loaf in the center of the oven for 30–35 minutes until the top is golden and the loaf sounds hollow when tapped.

Remove from the oven and let cool in the pan for 10 minutes before transferring to a wire rack to cool completely.