Place the glutinous rice in a large bowl and cover completely with water. Let it soak for at least 3 hours, covering the bowl to prevent contamination. This soaking process softens the rice grains and ensures even cooking.
After 3 hours, drain the water completely from the rice. Pour the lye water over the drained rice and stir thoroughly until the rice turns a beautiful yellowish color. The lye water is what gives suman its characteristic appearance and texture.
Prepare the banana leaves by briefly wilting them over low heat for just a few seconds on each side. This softens the leaves and makes them pliable for wrapping. Allow them to cool completely, then wipe clean with a damp cloth to remove any residue.
Lay the larger banana leaf on a flat surface with the topside facing down. Place the smaller leaf in the center with the topside facing up. This double-layer technique ensures the suman won't leak during cooking and adds extra aroma.
Spoon 3 tablespoons of the rice mixture onto the center of the smaller leaf. Fold the leaf carefully around the rice, creating a neat rectangular package. Make sure the rice is completely enclosed to prevent water from entering during cooking.
Take two wrapped rice packages and place them together, then tie securely with kitchen string. The string should be tight enough to hold the packages together but not so tight that it cuts through the leaves.
Arrange all the wrapped suman in a large pot and pour in enough water to completely cover them. The water level should be at least 1 inch above the wrapped rice to ensure even cooking.
Bring the water to a boil over medium heat, then reduce to low heat and simmer for 1½ hours. The long, slow cooking process ensures the rice becomes perfectly tender and develops that signature chewy texture.
Carefully remove the suman from the pot using tongs and let them cool for a few minutes before unwrapping. The rice should be translucent and have a firm, elastic texture when done.
For the latik sauce, pour the coconut milk into a saucepan and bring to a gentle boil. Reduce heat to low and let it simmer while stirring occasionally. Add the muscovado sugar and stir continuously until completely dissolved and the sauce thickens to a syrup-like consistency. The sauce should coat the back of a spoon when ready.