Begin by rinsing 1 cup of jasmine rice under cold running water in a fine-mesh strainer until the water runs clear, about 2-3 minutes.

In a medium saucepan, combine 1 cup of coconut milk, 1 cup of water, 1 tablespoon of sugar, and ½ teaspoon of salt over medium heat until it simmers, about 3-5 minutes.

Add the rinsed jasmine rice to the saucepan, stir briefly, then reduce the heat to low, cover, and cook for 15-18 minutes, or until the liquid is absorbed.

Remove the saucepan from heat and let it rest covered for 10 minutes.

Fluff the rice with a fork and transfer to a serving dish, topping with crispy fried shallots, cilantro, and lime slices.