Combine all the ingredients in a stainless steel pot. Boil slowly until the mixture is reduced by half. Cool & let it thicken until it is the consistency of unwhipped heavy cream. Use immediately or store in the refrigerator for up to 2 months. Serve at room temperature.
Serve as a dip for any fried food that may not be particularly sweet in itself. To make a smooth sauce, blend the ingredients in a blender before cooking.
William Crawford & Kamolmal Pootaraksa, "Thai Home-Cooking"