here's some info I dug up on this from wikipedia
http://en.wikipedia.org/wiki/Lion_Air_Australia
Even though it will be majority owned by SkyAirWorld, Lion Air president Rusdi Kiranait was reported as saying that his company would be the operator and control the business
So this wouldn't be an Australian based airline, it would be Indonesian based because as it stated, Lion Air would be operating it.
The fleet they'll be operating over here would have previously been maintained and operated using indonesian standards and it's no doubt that they'll be using their own Lion Air facilities in Indonesia to continue the maintanence of this fleet, which will be allowed to fly domestic and international routes throughout Australia and south-east asia.
Yes, a lot of Australian airlines outsource some of their repairs to facilities in asia, but they still do the majority of the servicing in Australia using our standards and workers.
People will argue that they'll be maintained to meet CASA's requirements, but at the end of the day, the work would have been done in some third world workshop with workplace standards well below Australia's funded by a company that doesn't have a good safety track record.