Reserve 4 tbsp of the milk. Bring the remaining milk to a boil with the coconut milk and shredded coconut. Add the rice and sugar. Cover and cook for approx. 40 minutes on a low heat until the rice is soft. Take off the heat.
Beat the egg yolks with the reserved milk and stir into the rice while still hot. Let cool, stirring occasionally.
Beat the egg whites until stiff and fold into the cool rice. Spoon into 4 bowls and chill in the fridge for about 1 hour.
To garnish: roast the shredded coconut without fat, stirring continually. Allow to cool and sprinkle over the puddings. Garnish with physalis and serve.