Preheat oven to 350°F. CAKE:Blend all ingredients for cake in a blender. Place in a greased and floured Bundt pan. Bake at 350ºF until golden brown, 60 to 90 minutes depending on the oven. Insert a toothpick to check doneness. If it comes out clean, remove cake from oven. ICING:Put the coconut milk, sugar and grated coconut in a saucepan, stirring occasionally. Bring to a boil, let it cool a bit, then pour over hot cake. The icing mixture will look like condensed milk when done. NOTES FROM THE KEY INGREDIENT TEAM:This cake is not like a traditional American cake. It is a very dense and moist cake, with a texture similar to a heavy cheesecake. It is sweet and delicious. You need to make sure you bake the cake until lightly browned on top and a toothpick comes out clean. It will still be very moist and creamy.