Bring the milk and water to a boil; add the vanilla beans and rice. Simmer till the liquid is absorbed and the rice is cooked (approximately 25 minutes). Remove from heat; let cool. Whisk the sugar and egg yolk together; add to the rice. Fold in the MERITENE Mobilis Neutral, ensuring that it is well mixed with the rice. Add shaved almonds before serving.
To prepare the cherry compote, remove the cherries from the liquid. Heat the liquid with the vanilla bean and sugar; thicken with the starch. Remove the vanilla bean and add the cherries to the sauce; let cool.