Start by combining lukewarm milk, egg, and melted butter in a medium-sized bowl. Whisk gently until the mixture is smooth and well-combined.

In a separate large bowl, mix together the all-purpose flour, sugar, and instant yeast until thoroughly combined.

Gradually pour the wet mixture into the dry ingredients, stirring with a wooden spoon or spatula.

Transfer the dough into a lightly oiled bowl, covering it with a clean kitchen towel. Let it rise for 1.5 to 2 hours or until doubled in size.

Punch the risen dough down and roll it out to approximately ¼ inch thick on a floured surface.

Using a round cutter, punch out donut shapes and place them on parchment paper, leaving space for rising.

Heat vegetable oil in a deep frying pan until it reaches 170-180°C (340-360°F).

Carefully lower a few donuts into the hot oil, frying for about 2-3 minutes on each side until golden brown.

Whip heavy whipping cream with a touch of sugar until stiff peaks form in a chilled mixing bowl.

Once cooled, slice each donut in half and spread a thin layer of condensed milk inside.

Pipe the whipped cream into each donut half, dust the tops lightly with powdered sugar for finishing touch.