In a medium sized pot, rinse the jasmine rice several times until the water runs clear. Drain any excess water and add the coconut milk, water and sugar.
On high heat, allow the mixture to boil. Once it starts to boil, turn the heat down to low and cook covered for 20 minutes.
Uncover and continue to cook for 5 minutes. Fluff and serve. Garnish with some chopped cilantro.