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In a mixing bowl, combine egg, milk, condensed milk, sugar, and salt. Mix until smooth.
Add the instant dry yeast and stir.
Gradually add the flour, mixing until a dough forms. Knead until smooth (10–12 minutes by hand or 6–8 minutes in a mixer).
Add the softened butter and continue kneading until fully incorporated and dough is elastic.
Cover and let rise in a warm place for about 1 hour or until doubled in size.
Punch down the dough, divide into equal portions, shape into balls or rolls, and place in a greased baking pan.
Cover and let rise again for 30–45 minutes.
Preheat oven to 180°C (350°F). Bake for 18–22 minutes or until golden brown.
Brush with condensed milk while still warm or dust with powdered sugar.
Serving and Storage Tips:
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