There has been dynamic changes in Malaysian political process since the 1997 East Asian economic crisis. This study analyses the rise of new politics in Malaysia for a last decade. In particular, this paper focuses on a multi-ethnic Parti Keadilan Rakyak (PKR) and its political implications on political development in Malaysia. Since its formation in 1998, PKR has played a pivotal role in cooperating long-lasting deeply divided opposition parties, such as DAP, PAS, PRM, during a series of general elections in 1999, 2004, and 2008. After a decade-long cooperation of opposition parties, it is cautiously expected that a fundamental change, from a singly dominant coalition system to a two coalition party system, in Malaysian political landscape might be realized in a near future. This paper examines why, and how, the previous experiences of multi-ethnic party politics in Malaysia had been failed before and after independence of 1957. To what extents, a decade-long political experiment led by PKR has similar, and different, to the previous experiences of multi-ethnic party politics. Will the rise of new multiethnic politics be able to lead a fundamental change of Malaysian political landscape? The analysis of these questions raised in this paper will provide meaningful clues in anticipation of political development in an authoritarian Malaysian political system.