In a large bowl, combine flour, sugar, salt, and instant yeast.
Add beaten egg, melted butter, milk, and water. Stir well until combined.
Transfer to a floured surface and knead until dough is smooth and elastic, about 10 minutes if kneading by hand or 5 minutes using a stand mixer on speed 3. If the dough is overly sticky, you can add extra flour, 1 tbsp at a time making sure not to add too much flour.
Form into a ball then transfer to a bowl greased with oil. Also, brush or spread some oil on top. Cover with a food wrap or damp cloth.
Let rise in a warm place for about 1-2 hours or until double in size.
Punch down the dough to remove air pockets then transfer to a floured surface. Divide the dough equally into two and return the other half in the bowl, cover (to avoid drying) and set aside.
Roll into a log then divide into equal portions about 50 grams each. Repeat the same process with the remaining dough.
Flatten the cut dough, roll into a rope and make a spiral shape.
Arrange in tray and cover with plastic wrap or damp cloth and let rise for about 30 minutes.
Brush the top with egg wash then bake in a preheated oven at 350F for about 18-20 minutes.
Remove from the oven and immediately brush the top with butter. Let cool completely.
Generously spread the top with margarine and sprinkle the top with sugar. Enjoy!
