Add 2 ½ c water, 1 c rice, 1 cinnamon stick, and ¼ tsp salt into a pot. Cover the pot and bring to a boil, then reduce the heat and let it simmer, covered, for 15 minutes.
Add the 2 c milk, can of sweetened condensed milk, can of evaporated milk, and the other cinnamon stick into the pot. Cover again and cook on a low heat for another 15 minutes, stirring occasionally. Keep stirring so that the milk does not burn on the bottom of the pot.
Remove the lid and cook for another 10-15 minutes until the desired consistency is reached. Continue stirring so that the milk does not burn.
Let the rice cool for 15 minutes. Serve warm or refrigerated, topping with raisins if desired.