Combine cereal, milk and molasses. Let stand until most of the moisture is absorbed. Melt butter. Combine egg and butter with the cereal mix and beat well. Stir in raisins. Sift together flour, baking powder, soda and salt. Add to cereal mixture, stirring only until combined. Fill greased muffin pan cups 3/4 full. Bake at 400 degrees about 20 minutes, or until muffins are lightly browned. Serve hot.