There are undervalued stocks; defined as those having their price-to-book ratio below one and there are highly undervalued stocks; defined as having a lower price-to-book ratio. For the latter, I would like to ascribe a price-to-book ratio of 0.5 so that theoretically, should an investor buy these stocks; they are paying just a half of the book value. In a way, this idea is attractive since it is just like a 50% discount off these highly undervalued stocks. I found five such billion-dollar caps Singapore stocks now trading at 50% discount off their net value. They are: 1) Ho Bee Land stock with a P/B ratio of 0.484 2) Hongkong Land Holdings Limited stock with a P/B ratio of 0.48 3) Yuexiu Property Company Limited stock with a P/B ratio of 0.46 4) Wing Tai Holdings Limited stock with a P/B ratio of 0.41 5) ......