Preheat the oven to 160C. Grease the baking pans. i have used , 5 inch pans. You can also use one 8 inch pan. If you are beginner to baking, i recommend lining your cake tin with parchment after greasing.
Sift together flour, baking powder, baking soda, and cinnamon powder into a bowl. Sifting is very important to get a homogeneous flour mix.
In another wide bowl, take condensed milk, butter and water. Whisk well together.
To this wet ingredients add the dry ingredients in 3 batches and using a spatula /whisk mix to a batter. Take care while mixing, do not mix vigorously. Be gentle.
Divide the prepared batter into the cake pans. I sprinkled some chopped almonds on top.
Bake the cake in the preheated oven from 40-45 minutues or until a skewer inserted in the middle of the cake comes out clean.
Remove the cake out of the oven, let it sit on the counter for 10 minutes. this resting time is important to remove the cake intact from the pan.
After 10 minutes, release the sides of the cake from the pan, using a blunt knife and unmould the cake on to a wire rack. Let it cool completely on the rack. Slice and serve
The cake stays good on the counter for a day. I usually cling-wrap and leave it on the counter. if storing more than a day, i usually put it in an air-tight container and refrigerate. If serving from the fridge, warm the slice for 10-20 seconds and enjoy.