In a mixing bowl, whisk together lukewarm milk, egg, and melted butter until combined and smooth.

In a separate bowl, combine all-purpose flour, sugar, and instant yeast. Whisk until evenly mixed.

Gradually pour the wet ingredients into the dry ingredients, stirring gently until a soft, slightly sticky dough forms.

Transfer the dough to an oiled bowl, cover, and let rise for 1.5 to 2 hours, or until doubled in size.

Once risen, punch down the dough, roll out to 1/4 inch thick, and cut into rounds.

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

Fry donut rounds in small batches for 2-3 minutes on each side until golden brown.

In a chilled bowl, combine heavy whipping cream and sugar, then beat until stiff peaks form.

Once donuts are cool, cut each in half and optionally spread condensed milk inside.

Fill each donut half with whipped cream and dust with powdered sugar to serve.