In a large bowl, add the flour, baking powder, salt, sugar, and cold butter. Mix with 2 knives or with a fork until mixture resembles fine crumbs.
Add the egg, water, and milk. Using an electric mixer with the dough hook, beat for 3 to 5 minutes until the dough is smooth. Cover and let stand 6 hours.
After 6 hours of rest, heat the oil over low heat in a large pan.
Divide the dough into 8 balls. Roll each ball in a thin strip. Divide each strip into 3. Gather the 3 ends and make a braid. Follow this step with each dough portion.
Fry each braid for 2 minutes on each side, or until golden brown. Immediately add the braids to the syrup; turning so that both sides absorb the syrup.
Serve immediately or store in the refrigerator and serve cold.