after 6 months you should know if your contract will either renew, extend, or convert.
You need to track and check with your bosses and Reporting Officer, and normally you will get some months notice if contract will not extend past the 1 year.

what can happen is your contract is not extended and the recruitment agency doesnt want to keep you, then you will be issued a 30-day Short Term Visit Pass which will allow you to prepare your next move.

There are many topics online, both have its own pros and cons.
https://www.michaelpage.com.sg/advice/caree...hich-better-you
However you should know your own situation.

permanent roles usually have more benefits compared to contract.
In contract role, you may have to earn your annual leave, and insurance may only be general insurance based on a pay first claim later.

My advice is to stick with your current role, and continue searching for greener grass.