Combine all ingredients in a small saucepan. Bring to the boil, reduce to a simmer and cook for approximately 20 minutes, or until glaze coats the back of a spoon.
Set aside to cool.
Place an oven rack to lowest position, remove all other racks. Heat the oven to 180⁰C.
Remove all plastic wrap from the ham. Using a sharp knife, slice a circle through the skin around the leg bone end of the ham. Score the rind lengthways down the ham, being careful not to cut the fat. Slip your fingers underneath the rind, and run along the fat to remove the rind completely. Discard the rind.
Score the fat in a diamond formation, then stud the centre of each diamond with a clove. Transfer the ham into a baking dish large enough to accommodate it, then brush with a third of the glaze.
Place in the oven and bake for 30 minutes. Reduce temperature to 160⁰C, and continue baking for another 45-60 minutes, brushing the glaze every 15 minutes, until the ham has caramelised.