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 maximum price-to-book ratio of 0.40 so that theoretically, should investors buy these stocks; they are paying for these stocks for less than half of their book value. The minimum price-to-book ratio for the above will be zero so that we can exclude negative earnings or equity. I found three such billion-dollar caps Singapore stocks now trading a maximum of 40% discount off their net value based on their last trading price as of 29 July 2016. These stocks are: 1) Genting Hong Kong stock with a P/B ratio of 0.405 2) Noble Group stock with a P/B ratio of 0.232 3) OUE Limited stock with a P/B ratio of 0.3 However, ......