Last night I took the bottom fairing off and tightened the header nuts. They were a bit loose but not excessive. But that did not fix the issue. I can still hear the 'ticking' (for lack of better words) noise. I tried to pinpoint where it is coming from. But all I can say it is somewhere from the top part of the engine. Again, there is no loss of power or any other functionality. It was just odd that I suddenly start hearing this noise about 2 - 3 days ago and it just won't go away. I even let the bike run for good 5 min or so to get warmed up completely, but the noise persist. Guess it is time to give the dealer a call?
To B.D.F, yes, it only happens when engine is running and frequency increases with rpm. Of course, at higher rpm, the natural engine noise drowns the ticking noise. You can hear it more prominently at idle or at low RPM (< 2000). So, the noise level does not increase with rpm - just how fast it ticks is all.