In a large saucepan, pour coconut milk and bring to a boil. Stir in sugar and condensed milk. Cook for 10 minutes.
Combine milk, corn starch, and rice flour together in a bowl. Whisk until free from lumps. Add to sauce pan, constantly stir and cook until mixture becomes very thick. Mix in corn kernels and cook for 2 more minutes.
Pour into serving container and cool. Refrigerate for 1 hour before serving. Serve with latik.