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Heat oil in a medium saucepan over medium heat.
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Add rice and cook for 2 minutes, stir frequently.
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Add coconut milk, salt and bring to a boil.
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Reduce heat to a simmer and cover, cook for 20-25 minutes, or until liquid is absorbed and rice is tender.
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Fluff the rice with a fork, garnish with toasted coconut flakes and serve.