Combine the rice with butter in your sauce pan over low heat. Gently stir until all of the butter has integrated fully and lightly coats the rice kernels.
Add the cold water, salt and coconut milk, and stir to combine. Cover with a tight fitting lid. Place over high heat and bring to a boil. Do not leave the pot unattended at this time, as this will happen quickly.
Remove the lid and thoroughly stir the rice mixture with a spoon. Cover once again, reduce to low heat, and set a timer for 15 minutes.
After 15 minutes, set the saucepan (still covered with the lid) off the heat. Set a timer for 10 minutes. Fluff the rice with a fork, season to taste as necessary, and serve.
Rice Cooker Method
I have a rice cooker and simply put all the ingredients into the cooker and select the regular rice setting!
Notes
I often use seven grain rice instead of Jasmine rice because it has some good health benefits and I really love the nutty flavour.