Preheat oven to 350°F (180°C). Mix flour and salt in medium bowl. Set aside. Beat butter, shortening and sugar in large bowl with electric mixer on medium speed until light and fluffy. Beat in eggs, one at a time. Gradually beat in flour mixture alternately with milk, beginning and ending with dry ingredients. Stir in coconut and extracts. Pour into greased and floured 10-in (25 cm) Bundt pan.
Bake 1 hour and 15 minutes or until toothpick inserted in centre comes out clean. Cool in pan 10 minutes.
Meanwhile, for the Glaze, mix sugar, water and coconut extract in small saucepan. Bring to boil; cook 1 minute or until sugar is dissolved. Invert cake onto wire rack. Brush glaze over warm cake.