1) In a pan, combine all the ingredients.
2) Cook until the mixture forms a soft ball in cold water, or till a candy thermometer registers 234 degrees.
3) Beat the mix until creamy. If the mix thickens too soon, add a little more milk and beat again.
4) Spread the icing between each layer of the cake and also on top. Note that after applying the icing, the cake will become more moist on the second day.