Mix the Me & Ube powder with warm water and leave it to soak for 30 minutes to 1 hour.
In a large pot over medium heat, combine the ube powder and water mixture, with vanilla essence and condensed milk.
Stir the mixture constantly to prevent it from sticking. Cook for about 30 to 40 minutes or until the mixture thickens.
Once your desired consistency is reached, remove the pot from heat. Add the margarine and butter, then transfer the mixture to a greased dish or mold, spreading it evenly.
Allow it to cool at room temperature, then refrigerate until firm. This is best served chilled.