Cook coconut milk with condensed milk and sugar to soft-ball stage, then beat in margarine.

Steps

1. Extract milk from grated coconut using a little hot water.
2. Combine all ingredients except margarine and cook over low heat to the soft-ball stage.
3. Remove from heat and beat in 1 oz margarine (an electric beater can be used).
4. Pour into a greased tin.
5. Cool and cut into squares.