The term of "blue chip" is not a "classification".
We do have A stock is blue chip or not, or B is blue chip.

Blue chip is just a name normally associated to large cap, and quality stocks.
There is no guideline or "yes or no" in this using term, just a normal/tradition market jargon.

PPB is not lousy, but a steady company.

Just because its share price doesn't move much daily, doesn't mean it is lousy.
It has been consistently give good dividend years after years and decade after decade.

How can a stock that previously about 10 years ago was RM4-5, now Rm17, and on top good dividend annually, can be a lousy stock?