Bring water to a boil in a pot. Add small sago pearls and cook for 15 minutes, stirring occasionally, until only a tiny white dot remains in the center. Turn off heat, cover, and let stand for 5-10 minutes until translucent. Drain and rinse with cold water, then set aside.
Steam peeled and cubed taro for 15-20 minutes until very tender. Mash the steamed taro thoroughly.
In a bowl, combine mashed taro, glutinous rice flour, and caster sugar. Gradually add hot water and knead until a smooth, non-sticky dough forms. Roll the dough into small balls (about 1-1.5 cm diameter).
Bring another pot of water to a boil. Add the taro balls and cook until they float to the surface and are cooked through, about 3-5 minutes. Scoop them out and transfer to a bowl of cold water to prevent sticking.
In a clean pot, combine coconut milk, evaporated milk, and water for soup base. Add rock sugar. Heat over medium-low heat, stirring until rock sugar dissolves completely. Do not boil.
Add the cooked sago pearls and taro balls to the warm coconut milk soup. Stir gently to combine. Serve warm or chill in the refrigerator for at least 1 hour before serving cold.
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