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Preheat your oven to 180°C (350°F). Grease and line a cake pan with parchment paper.
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In a saucepan over medium heat, warm the milk until it’s just about to boil. Remove it from the heat and let it cool slightly.
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In a large mixing bowl, whisk together the castor sugar and cornstarch.
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Slowly add the warm milk to the sugar and cornstarch mixture, whisking continuously to avoid lumps.
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Add the vegetable oil and slightly melted butter to the mixture, and continue to whisk until well combined.
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Gradually add the dry ingredients (flour) to the wet ingredients, stirring until you have a smooth batter.
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Pour the batter into the prepared cake pan.
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Bake in the preheated oven for approximately 25-30 minutes or until a toothpick inserted into the center of the cake comes out clean.
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Allow the cake to cool in the pan for about 10 minutes, then transfer it to a wire rack to cool completely.
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Once the cake is completely cooled, you can frost or decorate it as desired.