What is the right course of action here?

In this scenario, the key traffic rule to consider is the right of way. The yellow car is at a stop sign, which indicates that it must yield to other vehicles. The motorbike and you (in the vehicle) may proceed ahead of the yellow car because the yellow car must yield to any traffic coming from the left and right lanes, including those turning left or right.

The combination you selected is correct. The motorbike can go first, and then you can proceed after the motorbike, respecting the yield of the yellow car. It's essential to yield to any other traffic that may not be stopped according to their signs so that everyone can navigate safely and efficiently.

Understanding these rules helps prevent accidents and ensures smooth traffic flow.