Sift flour, sugar, baking powder, and salt into medium bowl. Add margarine; rub in with fingertips until coarse meal forms. Mix in grated coconut, then coconut milk. Stir mixture with fork until dough forms. Gather dough into ball; cover with kitchen towel. Let dough rest 30 minutes. Preheat oven to 400°F. Spray baking sheet with nonstick spray. Shape dough into 7-inch-round. Place on prepared baking sheet. Bake until golden brown and tester inserted into center comes out clean, about 20 minutes. Cool 30 minutes. Serve coconut bake slightly warm. *Available at most supermarkets and at Asian markets.