In a medium saucepan, melt margarine over medium-low heat; add onion and garlic, cook, stirring for 4-5 minutes or until softened. Add thyme and wine, bring to the boil. Cook, stirring, for 2 minutes or until liquid has almost evaporated.
Add mushrooms, cook for 2-3 minutes or until browned lightly. Add rice; cook, stirring, for 1 minute. Transfer mixture to 6 cup (1.5L) capacity oven proof dish. Add combined stock and light evaporated milk, stir to combine.
Cover tightly with foil; transfer to oven. Bake, stirring occasionally, for 55 minutes. stir in cheese and herbs. Serve topped with shaved parmesan, if desired.
