Ant capping is barrier that prevents termites from being able to get into a building undetected, this is generally made of a strip of galvanised metal shielding. It's very purpose is not to stop termites completely, but to give them some sort of obstruction so that they have to build a mud shelter tube to go around.
These can often be overlooked and forgotten about when renovations take place, repairs or changes are made to the existing building and sometimes can just rot away without anyone noticing.