Place the shrimp in a plastic bowl and add 1 tablespoon of olive oil, chili powder and onion powder and ½ teaspoon of salt. Refrigerate for 15 minutes.
Heat the oil in a medium pot over medium heat.
Add the rice, sugar, ½ teaspoon salt and pepper, stir until well coated.
Add the coconut milk. bay leaf and bring to a boil, for about 5 minutes, reduce the heat to low and add the shrimp. Cover and cook for 20 to 25 minutes or until the rice is just tender and the liquid is absorbed.
Remove from the heat, discard the bay leaf. Add the parsley and let it sit for 5 minutes and serve hot.