Cannot read property 'args' of undefined error while compiling a .ts file in Visual Studio Code IDE

I have written a tsconfig.json file which contains,

{
    "compilerOptions": {
        "target": "es5"
    }
}

And my HelloWorld.ts file contains,

function SayHello() {
    let x = "Hello World!";
    alert(x);
}

But, when I compile this code in Visual Studio Code using Ctrl+Shift+B I'm receiving the below error (in the output window),

Cannot read property 'args' of undefined

My NodeJS Version is 7.8.0, and TypeScript version is 2.3.4

Can someone help what's going wrong here?