The teams were divided into two groups of three who played each other, round robin, with the winner and runner-up of each group progressing to the semi-finals.
Pakistan won the tournament, defeating India, in the final. Australia and New Zealand reached the semi-finals, while Sri Lanka and United Arab Emirates were knocked out in the first round.
Frindall, Bill (1997). Limited-Overs International Cricket – The Complete Record. Headline Book Publishing. pp. 453–457. ISBN0-7472-1173-6.453-457&rft.pub=Headline Book Publishing&rft.date=1997&rft.isbn=0-7472-1173-6&rft.aulast=Frindall&rft.aufirst=Bill&rfr_id=info:sid/en.wikipedia.org:1994 Austral-Asia Cup" class="Z3988">
Ahmed, Qamar (1995). "Pepsi Austral-Asia Cup, 1993–94". In Engel, Matthew (ed.). Wisden Cricketers' Almanack 1995. John Wisden & Co Ltd. pp. 1166–1173. ISBN0-947766-24-3.1166-1173&rft.pub=John Wisden & Co Ltd&rft.date=1995&rft.isbn=0-947766-24-3&rft.aulast=Ahmed&rft.aufirst=Qamar&rft_id=http://www.espncricinfo.com/wisdenalmanack/content/story/151086.html&rfr_id=info:sid/en.wikipedia.org:1994 Austral-Asia Cup" class="Z3988">