Dilute the sugar with hot water and set aside to cool. Once it is cooled, add in vinegar, lime juice, and soy sauce. Lastly, mix in the garlic and chilies.
Taste the sauce and adjust the seasoning as needed: If the sauce tastes too concentrated, dilute with a little water. If it tastes too sweet, add in more lime juice or vinegar, then add soy sauce to balance. If it tastes too sour, add a little more sugar and soy sauce, and a bit of water to balance.