It seems logically consistent to me. That doesn't make it true but it's not hard to understand.
If a bing created space, time and matter then it would exist outside of these three things.
When, pray tell, did this entity have the time to create time? I didn't know turtles wore watches.
Some people believe that time had a beginning and that god created it along with space and material.
well then, aren't beliefs FUN! Fiction is very entertaining, indeed... Some people believe that the moon landing was a hoax... and that black people are "less evolved" than whites... We are discussing facts, though, I beleive. People are entitled to whatever beliefs they want. Facts, on the other hand, are not really open for debate.
So, factually speaking, to "create time" requires that time does not yet exist (unless "create" is being used differently here than in, say, ENGLISH). Please explain how "create" works without the support of time to diferenciate a "before creation" and "after creation" state that changed.